Crossmark Global Holdings Inc. Sells 17,858 Shares of Pembina Pipeline Co. (NYSE:PBA)

Crossmark Global Holdings Inc. cut its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 39.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,108 shares of the pipeline company’s stock after selling 17,858 shares during the period. Crossmark Global Holdings Inc.’s holdings in Pembina Pipeline were worth $1,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Pembina Pipeline by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the pipeline company’s stock valued at $335,000 after purchasing an additional 538 shares during the period. Headlands Technologies LLC purchased a new position in shares of Pembina Pipeline in the 1st quarter worth about $100,000. Intech Investment Management LLC bought a new position in Pembina Pipeline during the first quarter valued at about $1,387,000. Vanguard Group Inc. increased its holdings in Pembina Pipeline by 2.1% during the first quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock worth $779,372,000 after buying an additional 460,761 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Pembina Pipeline by 13,721.7% in the first quarter. Hillsdale Investment Management Inc. now owns 72,702 shares of the pipeline company’s stock worth $2,567,000 after acquiring an additional 72,176 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $41.79 on Friday. Pembina Pipeline Co. has a 52-week low of $31.51 and a 52-week high of $43.44. The business’s fifty day moving average is $41.70 and its 200 day moving average is $39.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The firm has a market cap of $24.26 billion, a price-to-earnings ratio of 17.27 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.60%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PBA shares. Raymond James initiated coverage on shares of Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Finally, Citigroup increased their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and an average target price of $56.50.

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.