60,786 Pembina Pipeline Corp. $PBA Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 567,817 shares of the pipeline company’s stock after selling 60,786 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pembina Pipeline were worth $25,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PBA. Western Wealth Management LLC bought a new stake in Pembina Pipeline during the first quarter worth $25,000. Dunhill Financial LLC acquired a new stake in Pembina Pipeline in the second quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new stake in Pembina Pipeline in the second quarter valued at $31,000. Integrated Wealth Concepts LLC bought a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $33,000. Finally, Markowski Investments bought a new position in shares of Pembina Pipeline in the 2nd quarter valued at about $54,000. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PBA shares. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a research note on Wednesday, October 7th. Raymond James Financial reiterated an “outperform” rating on shares of Pembina Pipeline in a research note on Wednesday, October 14th. Weiss Ratings upgraded Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. BMO Capital Markets reissued a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Finally, Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Trading Up 1.7%

Shares of Pembina Pipeline stock opened at $49.85 on Thursday. The business has a fifty day simple moving average of $48.05 and a two-hundred day simple moving average of $46.74. Pembina Pipeline Corp. has a 1 year low of $36.20 and a 1 year high of $51.58. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 20.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.75 and a quick ratio of 0.59.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its quarterly earnings data on Thursday, November 5th. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.44 by $0.11. Pembina Pipeline had a net margin of 24.77% and a return on equity of 12.60%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Research analysts forecast that Pembina Pipeline Corp. will post 2.26 EPS for the current year.

Pembina Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of C$0.73 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.94 annualized dividend and a dividend yield of 5.9%. Pembina Pipeline’s payout ratio is presently 88.70%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation is a Canadian energy transportation and midstream services company headquartered in Calgary, Alberta. Founded in 1954, it began as a pipeline operator serving oil fields in Alberta and has expanded into a range of energy infrastructure businesses. The company transports crude oil, natural gas and natural gas liquids through its pipeline networks. Its operations also include natural gas gathering and processing, liquids fractionation, storage and terminalling, along with services that help connect producers with domestic and export markets.