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

Maryland State Retirement & Pension System decreased its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. 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 owned 0.10% of Pembina Pipeline worth $25,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Western Wealth Management LLC bought a new stake in Pembina Pipeline during the first quarter worth about $25,000. Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $31,000. Integrated Wealth Concepts LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $33,000. Finally, Markowski Investments bought a new stake in Pembina Pipeline during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

PBA opened at $49.85 on Thursday. The business’s 50-day moving average price is $48.05 and its two-hundred day moving average price is $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 issued its quarterly earnings results on Thursday, November 5th. The pipeline company reported $0.55 earnings per share (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 analyst estimates of $1.41 billion. During the same period in the previous year, the business earned $0.43 EPS. The company’s revenue was up 21.7% compared to the same quarter last year. Equities analysts expect that Pembina Pipeline Corp. will post 2.26 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

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 given a C$0.73 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.9%. Pembina Pipeline’s payout ratio is currently 88.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PBA shares. Canadian Imperial Bank of Commerce cut Pembina Pipeline from an “outperform” rating to a “hold” rating in a report on Thursday, October 22nd. Raymond James Financial reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Wednesday, October 14th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research note on Wednesday, October 7th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.00.

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.