Maryland State Retirement & Pension System Reduces Stock Position in Pembina Pipeline Corp. $PBA

Maryland State Retirement & Pension System lessened its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 664,819 shares of the pipeline company’s stock after selling 39,409 shares during the quarter. Maryland State Retirement & Pension System owned about 0.11% of Pembina Pipeline worth $25,359,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management Inc. boosted its holdings in shares of Pembina Pipeline by 10.0% during the 4th quarter. Cardinal Capital Management Inc. now owns 3,274,336 shares of the pipeline company’s stock valued at $124,621,000 after acquiring an additional 298,412 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Pembina Pipeline by 2.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,703,413 shares of the pipeline company’s stock worth $64,798,000 after purchasing an additional 40,944 shares during the period. Fiera Capital Corp lifted its stake in shares of Pembina Pipeline by 12.6% in the 3rd quarter. Fiera Capital Corp now owns 1,073,818 shares of the pipeline company’s stock worth $43,402,000 after purchasing an additional 120,272 shares during the period. Citigroup Inc. lifted its stake in shares of Pembina Pipeline by 96.3% in the 3rd quarter. Citigroup Inc. now owns 216,975 shares of the pipeline company’s stock worth $8,775,000 after purchasing an additional 106,419 shares during the period. Finally, Sienna Gestion lifted its stake in shares of Pembina Pipeline by 1,412,500.0% in the 3rd quarter. Sienna Gestion now owns 339,024 shares of the pipeline company’s stock worth $12,500,000 after purchasing an additional 339,000 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

PBA has been the topic of several recent research reports. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. increased their price objective on shares of Pembina Pipeline from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Finally, TD Securities upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.67.

Pembina Pipeline Price Performance

NYSE PBA opened at $47.15 on Wednesday. Pembina Pipeline Corp. has a 12 month low of $35.45 and a 12 month high of $50.10. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 24.56 and a beta of 0.57. The company’s 50 day moving average is $46.39 and its two-hundred day moving average is $43.08. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 0.84.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, May 7th. The pipeline company reported $0.59 EPS for the quarter, topping 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 company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business earned $0.80 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Pembina Pipeline Corp. will post 2.28 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Monday, June 15th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.71. Pembina Pipeline’s dividend payout ratio (DPR) 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.