Pembina Pipeline Corp. (NYSE:PBA) Shares Bought by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Pembina Pipeline Corp. by 1.1% in the first quarter, now owning a total of 739,229 shares valued at approximately $29.6 million.
• Pembina Pipeline reported a net margin of 23.73% for the last quarter with earnings per share of $0.80, surpassing analysts' expectations of $0.57.
• The company declared a quarterly dividend increase to $0.5109, representing an annual yield of 5.5% and indicating a substantial payout ratio of 93.67%.

Maryland State Retirement & Pension System lifted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 739,229 shares of the pipeline company's stock after purchasing an additional 8,366 shares during the period. Pembina Pipeline comprises about 0.7% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 29th largest position. Maryland State Retirement & Pension System owned 0.13% of Pembina Pipeline worth $29,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Pembina Pipeline by 1,591.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,155,558 shares of the pipeline company's stock worth $116,440,000 after acquiring an additional 2,968,994 shares during the period. Mackenzie Financial Corp lifted its stake in Pembina Pipeline by 10.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after acquiring an additional 1,331,294 shares during the period. Geode Capital Management LLC lifted its stake in Pembina Pipeline by 30.4% in the fourth quarter. Geode Capital Management LLC now owns 3,539,660 shares of the pipeline company's stock worth $133,449,000 after acquiring an additional 824,232 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pembina Pipeline by 21.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,616,105 shares of the pipeline company's stock worth $96,665,000 after acquiring an additional 460,646 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Pembina Pipeline by 28.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,943,874 shares of the pipeline company's stock worth $71,784,000 after acquiring an additional 435,763 shares during the period. 55.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday. National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock traded down $1.35 during midday trading on Friday, hitting $35.54. The company had a trading volume of 1,792,792 shares, compared to its average volume of 930,350. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 16.69 and a beta of 0.78. The company has a quick ratio of 0.52, a current ratio of 0.64 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $37.20 and a 200 day simple moving average of $37.52. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last announced its quarterly earnings data on Thursday, May 8th. The pipeline company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.57 by $0.23. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.47 billion. Pembina Pipeline had a net margin of 23.24% and a return on equity of 12.26%. Pembina Pipeline's revenue was up 48.2% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. As a group, analysts predict that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.71 dividend. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 annualized dividend and a dividend yield of 8.0%. Pembina Pipeline's dividend payout ratio (DPR) is presently 93.67%.

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.