Maryland State Retirement & Pension System Has $31.95 Million Stock Holdings in Pembina Pipeline Corp. $PBA

Maryland State Retirement & Pension System boosted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.2% during the first quarter, HoldingsChannel reports. The fund owned 712,792 shares of the pipeline company’s stock after purchasing an additional 47,973 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pembina Pipeline were worth $31,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cardinal Capital Management Inc. grew its stake in shares of Pembina Pipeline by 10.0% in the fourth quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock worth $124,621,000 after purchasing an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in Pembina Pipeline by 2.5% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock valued at $64,798,000 after purchasing an additional 40,944 shares during the period. Vanguard Group Inc. raised its position in Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock worth $1,037,512,000 after purchasing an additional 541,615 shares during the last quarter. K.J. Harrison & Partners Inc raised its position in Pembina Pipeline by 27.3% during the 4th quarter. K.J. Harrison & Partners Inc now owns 207,560 shares of the pipeline company’s stock worth $7,919,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Lincluden Management Ltd. lifted its holdings in Pembina Pipeline by 7.9% during the 3rd quarter. Lincluden Management Ltd. now owns 927,892 shares of the pipeline company’s stock worth $37,295,000 after buying an additional 68,013 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on PBA shares. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Wall Street Zen downgraded Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $68.00 price objective on shares of Pembina Pipeline in a research note on Friday, July 3rd. Royal Bank Of Canada upped their target price on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, TD Securities raised shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Pembina Pipeline Price Performance

PBA stock opened at $49.98 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 26.03 and a beta of 0.57. The company’s fifty day simple moving average is $47.66 and its 200 day simple moving average is $44.31. Pembina Pipeline Corp. has a 12-month low of $35.45 and a 12-month high of $50.13.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Pembina Pipeline had a return on equity of 11.47% and a net margin of 22.22%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company posted $0.80 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, analysts expect that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.735 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.71. This represents a $2.94 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, June 15th. Pembina Pipeline’s payout ratio is 110.94%.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.