Maryland State Retirement & Pension System Has $26.99 Million Holdings in Pembina Pipeline Co. (NYSE:PBA)

Maryland State Retirement & Pension System increased its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 730,863 shares of the pipeline company’s stock after purchasing an additional 9,540 shares during the period. Maryland State Retirement & Pension System owned approximately 0.13% of Pembina Pipeline worth $26,991,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. PDT Partners LLC bought a new position in Pembina Pipeline during the third quarter worth about $1,329,000. Van ECK Associates Corp lifted its holdings in Pembina Pipeline by 8.0% during the fourth quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company’s stock worth $8,335,000 after acquiring an additional 16,762 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Pembina Pipeline by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock worth $167,000,000 after acquiring an additional 624,958 shares in the last quarter. Jennison Associates LLC lifted its holdings in Pembina Pipeline by 32.3% during the fourth quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company’s stock worth $22,786,000 after acquiring an additional 150,689 shares in the last quarter. Finally, FMR LLC lifted its holdings in Pembina Pipeline by 1,396.8% during the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock worth $22,573,000 after acquiring an additional 510,873 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on PBA shares. TD Securities started coverage on Pembina Pipeline in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Citigroup upgraded Pembina Pipeline from a “neutral” rating to a “buy” rating in a report on Monday, March 10th. Wells Fargo & Company lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Barclays assumed coverage on Pembina Pipeline in a report on Thursday, December 12th. They issued an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

Shares of Pembina Pipeline stock opened at $39.00 on Wednesday. Pembina Pipeline Co. has a one year low of $33.83 and a one year high of $43.44. The firm has a market cap of $22.64 billion, a price-to-earnings ratio of 16.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The stock’s 50-day moving average is $37.10 and its 200-day moving average is $39.32.

Pembina Pipeline Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.4783 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.91%. Pembina Pipeline’s payout ratio is presently 86.76%.

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.