Maryland State Retirement & Pension System Sells 39,409 Shares of Pembina Pipeline Corp. $PBA

Maryland State Retirement & Pension System lowered its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 664,819 shares of the pipeline company’s stock after selling 39,409 shares during the period. Maryland State Retirement & Pension System’s holdings in Pembina Pipeline were worth $25,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Pembina Pipeline during the fourth quarter valued at approximately $36,000. Larson Financial Group LLC raised its position in shares of Pembina Pipeline by 32.4% during the third quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after buying an additional 259 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $46,000. Finally, IFP Advisors Inc raised its position in shares of Pembina Pipeline by 74.8% during the fourth quarter. IFP Advisors Inc now owns 1,199 shares of the pipeline company’s stock valued at $46,000 after buying an additional 513 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Trading Down 1.2%

PBA stock opened at $47.15 on Wednesday. The firm has a fifty day moving average price of $46.39 and a 200 day moving average price of $43.08. Pembina Pipeline Corp. has a fifty-two week low of $35.45 and a fifty-two week high of $50.10. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.83. The firm has a market cap of $27.41 billion, a PE ratio of 24.56 and a beta of 0.57.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, May 7th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. Pembina Pipeline had a net margin of 22.22% and a return on equity of 11.47%. 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 firm posted $0.80 earnings per share. Pembina Pipeline’s revenue for the quarter was down 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Pembina Pipeline Corp. will post 2.28 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, June 15th. Pembina Pipeline’s payout ratio is 110.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Securities upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings upgraded shares of Pembina Pipeline from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

About Pembina Pipeline

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.