Crossmark Global Holdings Inc. Has $1.24 Million Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Crossmark Global Holdings Inc. raised its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 24.0% in the 4th quarter, HoldingsChannel reports. The fund owned 33,622 shares of the pipeline company’s stock after purchasing an additional 6,514 shares during the period. Crossmark Global Holdings Inc.’s holdings in Pembina Pipeline were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after purchasing an additional 1,319,709 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Pembina Pipeline by 83.2% in the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock valued at $81,498,000 after buying an additional 897,940 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Pembina Pipeline by 2,256.3% during the 2nd quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after acquiring an additional 622,202 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Pembina Pipeline by 55.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,600,000 shares of the pipeline company’s stock valued at $59,373,000 after acquiring an additional 570,000 shares during the period. Institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company downgraded Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Barclays started coverage on Pembina Pipeline in a research note on Thursday, December 12th. They set an “overweight” rating for the company. Finally, TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and an average price target of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $37.07 on Friday. The business’s fifty day moving average is $38.48 and its two-hundred day moving average is $39.65. 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 $21.52 billion, a P/E ratio of 15.32 and a beta of 1.25. Pembina Pipeline Co. has a 52 week low of $32.81 and a 52 week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 7.44%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is currently 80.58%.

About Pembina Pipeline

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.