Crossmark Global Holdings Inc. Trims Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Crossmark Global Holdings Inc. lowered its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 6.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,966 shares of the pipeline company’s stock after selling 2,870 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Pembina Pipeline were worth $1,668,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PBA. Russell Investments Group Ltd. increased its position in Pembina Pipeline by 6.0% during the fourth quarter. Russell Investments Group Ltd. now owns 764,136 shares of the pipeline company’s stock worth $26,434,000 after purchasing an additional 43,044 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Pembina Pipeline by 7.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 18,194 shares of the pipeline company’s stock valued at $626,000 after buying an additional 1,315 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Pembina Pipeline by 303.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock worth $52,000 after buying an additional 1,142 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of Pembina Pipeline by 9.7% in the 4th quarter. Natixis Advisors L.P. now owns 22,678 shares of the pipeline company’s stock worth $780,000 after buying an additional 2,006 shares during the period. Finally, M&T Bank Corp boosted its holdings in Pembina Pipeline by 3.0% in the fourth quarter. M&T Bank Corp now owns 84,481 shares of the pipeline company’s stock valued at $2,908,000 after acquiring an additional 2,441 shares during the last quarter. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday. Scotiabank cut Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 19th. Finally, StockNews.com lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Up 0.6 %

NYSE:PBA traded up $0.24 during mid-day trading on Friday, hitting $40.28. The company had a trading volume of 857,160 shares, compared to its average volume of 1,108,093. The business has a fifty day simple moving average of $38.08 and a 200-day simple moving average of $36.46. The firm has a market capitalization of $23.36 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 5.43 and a beta of 1.25. Pembina Pipeline Co. has a 1 year low of $28.15 and a 1 year high of $40.55. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.54 by $0.21. Pembina Pipeline had a return on equity of 13.68% and a net margin of 23.50%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the company posted $0.45 EPS. Pembina Pipeline’s revenue for the quarter was up 30.5% on a year-over-year basis. Equities analysts forecast that Pembina Pipeline Co. will post 2.36 earnings per share for the current fiscal year.

Pembina Pipeline Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.97%. Pembina Pipeline’s payout ratio is currently 86.52%.

Pembina Pipeline Profile

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.