First Trust Direct Indexing L.P. Lowers Stake in Pembina Pipeline Co. (NYSE:PBA)

First Trust Direct Indexing L.P. cut its position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 24.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,339 shares of the pipeline company’s stock after selling 6,272 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Pembina Pipeline were worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PBA. Toronto Dominion Bank grew its holdings in Pembina Pipeline by 97.2% in the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after purchasing an additional 4,405,792 shares during the period. Canada Pension Plan Investment Board grew its holdings in Pembina Pipeline by 56.9% in the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after purchasing an additional 3,043,200 shares during the period. ClearBridge Investments Ltd grew its holdings in Pembina Pipeline by 12.3% in the first quarter. ClearBridge Investments Ltd now owns 7,173,059 shares of the pipeline company’s stock valued at $253,496,000 after purchasing an additional 784,814 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Pembina Pipeline by 31.1% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,969,440 shares of the pipeline company’s stock valued at $104,940,000 after purchasing an additional 704,249 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Pembina Pipeline by 93.7% in the first quarter. 1832 Asset Management L.P. now owns 1,374,359 shares of the pipeline company’s stock valued at $48,570,000 after purchasing an additional 664,843 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Down 0.4 %

Shares of PBA stock opened at $41.61 on Friday. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 5.86 and a beta of 1.25. The company has a quick ratio of 0.55, a current ratio of 0.68 and a debt-to-equity ratio of 0.77. Pembina Pipeline Co. has a fifty-two week low of $31.06 and a fifty-two week high of $43.44. The firm’s 50 day moving average price is $41.51 and its two-hundred day moving average price is $38.61.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.21. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. Pembina Pipeline’s revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts anticipate that Pembina Pipeline Co. will post 2.38 EPS for the current year.

Pembina Pipeline Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.81%. Pembina Pipeline’s payout ratio is currently 85.00%.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating for the company. Citigroup boosted their target price on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, Raymond James began coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.