Maryland State Retirement & Pension System Sells 31,816 Shares of Pembina Pipeline Corp. $PBA

Maryland State Retirement & Pension System lessened its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 707,413 shares of the pipeline company’s stock after selling 31,816 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pembina Pipeline were worth $26,582,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PBA. Goldman Sachs Group Inc. lifted its holdings in shares of Pembina Pipeline by 78.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company’s stock worth $283,770,000 after acquiring an additional 3,108,920 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Pembina Pipeline by 136.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company’s stock worth $160,681,000 after buying an additional 2,307,634 shares during the period. Nuveen LLC purchased a new position in Pembina Pipeline in the 1st quarter worth about $83,743,000. Invesco Ltd. increased its stake in Pembina Pipeline by 55.2% in the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company’s stock worth $100,961,000 after buying an additional 897,386 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pembina Pipeline by 27.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,329,122 shares of the pipeline company’s stock worth $133,265,000 after buying an additional 713,017 shares during the period. Institutional investors own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PBA. National Bankshares raised shares of Pembina Pipeline from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 26th. Jefferies Financial Group downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pembina Pipeline in a research note on Wednesday. Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company downgraded shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Down 0.4%

NYSE:PBA opened at $40.78 on Thursday. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The stock has a market capitalization of $23.69 billion, a P/E ratio of 19.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The company’s 50-day simple moving average is $38.41 and its 200-day simple moving average is $37.92.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $0.71 dividend. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.51. The ex-dividend date was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 7.0%. Pembina Pipeline’s dividend payout ratio (DPR) is 96.71%.

Pembina Pipeline Company 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.