Public Employees Retirement System of Ohio Makes New $1.96 Million Investment in Pembina Pipeline Corp. $PBA

Public Employees Retirement System of Ohio acquired a new stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 42,406 shares of the pipeline company’s stock, valued at approximately $1,961,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PBA. Western Wealth Management LLC acquired a new position in shares of Pembina Pipeline during the first quarter valued at $25,000. Dunhill Financial LLC bought a new stake in Pembina Pipeline during the 2nd quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new stake in Pembina Pipeline during the 2nd quarter worth about $31,000. Tobam acquired a new position in Pembina Pipeline during the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Pembina Pipeline during the 3rd quarter valued at about $31,000. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Trading Up 0.0%

PBA opened at $48.42 on Monday. The firm’s fifty day moving average is $48.77 and its two-hundred day moving average is $46.78. The firm has a market cap of $28.16 billion, a PE ratio of 23.74 and a beta of 0.58. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm earned $0.65 EPS. Pembina Pipeline’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that Pembina Pipeline Corp. will post 2.23 EPS for the current year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio is presently 104.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada lifted their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Scotiabank downgraded Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.