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

Maryland State Retirement & Pension System lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 712,792 shares of the pipeline company’s stock after acquiring an additional 47,973 shares during the period. Maryland State Retirement & Pension System owned approximately 0.12% of Pembina Pipeline worth $31,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Tobam bought a new stake in Pembina Pipeline during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Pembina Pipeline in the 3rd quarter valued at $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Pembina Pipeline in the 4th quarter valued at $36,000. Larson Financial Group LLC increased its stake in shares of Pembina Pipeline by 32.4% in the 3rd quarter. Larson Financial Group LLC now owns 1,059 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 259 shares during the last quarter. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Pembina Pipeline during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating and set a $68.00 target price on shares of Pembina Pipeline in a research note on Friday, July 3rd. TD Securities raised Pembina Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 26th. Barclays reissued an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Finally, Wall Street Zen downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Hold” and an average target price of $64.00.

Pembina Pipeline Stock Up 0.7%

Shares of NYSE:PBA opened at $49.98 on Wednesday. Pembina Pipeline Corp. has a 52-week low of $35.45 and a 52-week high of $50.13. The company has a market capitalization of $29.07 billion, a PE ratio of 26.03 and a beta of 0.57. 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 company has a fifty day moving average of $47.66 and a 200-day moving average of $44.31.

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

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.735 dividend. This is a boost 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 was Monday, June 15th. Pembina Pipeline’s dividend payout ratio is 110.94%.

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.