Maryland State Retirement & Pension System Decreases Stock Holdings in Pembina Pipeline Corp. $PBA

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Pembina Pipeline Corp. by 4.3%, now owning approximately 0.12% of the company, worth $26.58 million.
• Several institutional investors have increased their stakes in Pembina Pipeline, with First Horizon Advisors boosting its position by 69.9% during the first quarter.
• Pembina Pipeline recently declared a quarterly dividend of $0.71 per share, representing an annualized yield of 7.0%, an increase from the previous dividend of $0.51.

Maryland State Retirement & Pension System trimmed its stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 707,413 shares of the pipeline company's stock after selling 31,816 shares during the period. Maryland State Retirement & Pension System owned approximately 0.12% of Pembina Pipeline worth $26,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after purchasing an additional 277 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Pembina Pipeline by 8.9% in the second quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company's stock worth $142,000 after purchasing an additional 307 shares during the period. JCIC Asset Management Inc. boosted its position in shares of Pembina Pipeline by 6.8% in the first quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock worth $205,000 after purchasing an additional 325 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Pembina Pipeline by 17.0% in the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock worth $96,000 after purchasing an additional 349 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Pembina Pipeline by 11.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,436 shares of the pipeline company's stock worth $129,000 after purchasing an additional 352 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. National Bank Financial upgraded shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. Finally, National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy".

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $40.78 on Thursday. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 19.15 and a beta of 0.76. The firm's fifty day moving average is $38.41 and its 200 day moving average is $37.92. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a yield of 7.0%. Pembina Pipeline's payout ratio is currently 96.71%.

About Pembina Pipeline

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.

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