Pembina Pipeline Co. (NYSE:PBA) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,507 shares of the pipeline company’s stock after selling 15,582 shares during the quarter. Maryland State Retirement & Pension System owned approximately 0.13% of Pembina Pipeline worth $24,799,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PBA. Metis Global Partners LLC boosted its stake in shares of Pembina Pipeline by 2.8% in the 4th quarter. Metis Global Partners LLC now owns 44,926 shares of the pipeline company’s stock valued at $1,547,000 after buying an additional 1,240 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Pembina Pipeline in the 4th quarter valued at about $220,000. M&T Bank Corp boosted its stake in shares of Pembina Pipeline by 3.0% in the 4th quarter. M&T Bank Corp now owns 84,481 shares of the pipeline company’s stock valued at $2,908,000 after buying an additional 2,441 shares during the period. Natixis Advisors L.P. boosted its stake 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 valued at $780,000 after buying an additional 2,006 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of Pembina Pipeline by 303.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock valued at $52,000 after buying an additional 1,142 shares during the period. 55.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TheStreet upgraded Pembina Pipeline from a “c” rating to a “b-” rating in a research note on Thursday, February 29th. CIBC lifted their price objective on Pembina Pipeline from $56.00 to $57.00 and gave the company an “outperformer” rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Pembina Pipeline has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Pembina Pipeline Stock Performance

NYSE PBA traded up $0.04 on Tuesday, reaching $35.93. The stock had a trading volume of 365,203 shares, compared to its average volume of 1,030,373. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.71 and a current ratio of 0.82. Pembina Pipeline Co. has a 12-month low of $28.15 and a 12-month high of $36.17. The business’s 50-day moving average price is $35.18 and its 200 day moving average price is $33.98. The stock has a market cap of $20.82 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 5.28 and a beta of 1.20.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Pembina Pipeline had a return on equity of 13.11% and a net margin of 19.43%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.83 billion. As a group, equities analysts expect that Pembina Pipeline Co. will post 2.24 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.4944 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.50%. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.48. Pembina Pipeline’s payout ratio is presently 89.14%.

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.