Maryland State Retirement & Pension System Has $24.80 Million Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Maryland State Retirement & Pension System lowered its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 720,507 shares of the pipeline company’s stock after selling 15,582 shares during the period. Maryland State Retirement & Pension System’s holdings in Pembina Pipeline were worth $24,799,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PBA. Baystate Wealth Management LLC acquired a new stake in Pembina Pipeline in the fourth quarter valued at approximately $34,000. First Horizon Advisors Inc. lifted its holdings in shares of Pembina Pipeline by 303.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,518 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 1,142 shares during the period. Rational Advisors LLC acquired a new position in shares of Pembina Pipeline during the third quarter worth $59,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Pembina Pipeline by 22.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,786 shares of the pipeline company’s stock worth $61,000 after purchasing an additional 329 shares during the period. Finally, Pacifica Partners Inc. lifted its holdings in shares of Pembina Pipeline by 159.0% during the fourth quarter. Pacifica Partners Inc. now owns 2,020 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,240 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Trading Up 0.1 %

PBA stock traded up $0.04 during midday trading on Tuesday, hitting $35.93. The stock had a trading volume of 365,203 shares, compared to its average volume of 1,030,373. The firm has a market cap of $20.82 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 5.28 and a beta of 1.20. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Pembina Pipeline Co. has a 1-year low of $28.15 and a 1-year high of $36.17. The business has a fifty day moving average price of $35.18 and a two-hundred day moving average price of $33.98.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, February 22nd. The pipeline company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.83 billion. Pembina Pipeline had a net margin of 19.43% and a return on equity of 13.11%. On average, sell-side analysts predict that Pembina Pipeline Co. will post 2.24 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.4944 dividend. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.48. This represents a $1.98 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend was Thursday, March 14th. Pembina Pipeline’s payout ratio is 89.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PBA shares. CIBC lifted their price target on shares of Pembina Pipeline from $56.00 to $57.00 and gave the stock an “outperformer” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Pembina Pipeline from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.