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

First Trust Direct Indexing L.P. cut its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 24.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,339 shares of the pipeline company’s stock after selling 6,272 shares during the period. First Trust Direct Indexing L.P.’s holdings in Pembina Pipeline were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PBA. Wealth Enhancement Advisory Services LLC grew its position in shares of Pembina Pipeline by 8.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,757 shares of the pipeline company’s stock valued at $609,000 after buying an additional 1,199 shares during the last quarter. Tectonic Advisors LLC purchased a new position in shares of Pembina Pipeline in the 3rd quarter valued at $301,000. Assenagon Asset Management S.A. grew its position in shares of Pembina Pipeline by 16.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,697 shares of the pipeline company’s stock valued at $1,019,000 after buying an additional 3,399 shares during the last quarter. CENTRAL TRUST Co grew its position in shares of Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after buying an additional 325 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Pembina Pipeline by 11.0% in the 3rd quarter. Signaturefd LLC now owns 16,486 shares of the pipeline company’s stock valued at $680,000 after buying an additional 1,635 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Stock Down 0.4 %

Shares of NYSE PBA opened at $41.61 on Friday. 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 52 week low of $31.06 and a 52 week high of $43.44. The firm has a 50-day moving average price of $41.51 and a 200 day moving average price of $38.61. The stock has a market capitalization 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.

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

Pembina Pipeline Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 85.00%.

Wall Street Analyst Weigh In

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