Public Employees Retirement System of Ohio Invests $2.09 Million in Pembina Pipeline Co. (NYSE:PBA)

Public Employees Retirement System of Ohio bought a new stake in Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 50,755 shares of the pipeline company's stock, valued at approximately $2,094,000.

Other institutional investors have also added to or reduced their stakes in the company. Godsey & Gibb Inc. acquired a new position in Pembina Pipeline in the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Pembina Pipeline during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Pembina Pipeline in the third quarter valued at $26,000. Dunhill Financial LLC bought a new position in Pembina Pipeline in the third quarter worth $28,000. Finally, Blue Trust Inc. boosted its stake in Pembina Pipeline by 223.8% during the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company's stock worth $30,000 after buying an additional 508 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PBA shares. Barclays began coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an "overweight" rating for the company. UBS Group began coverage on shares of Pembina Pipeline in a research note on Wednesday, September 11th. They set a "neutral" rating for the company. Raymond James started coverage on Pembina Pipeline in a report on Friday, October 11th. They set an "outperform" rating on the stock. Finally, Citigroup increased their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Hold" and a consensus price target of $56.50.

Pembina Pipeline Trading Down 0.9 %

Shares of Pembina Pipeline stock opened at $37.03 on Wednesday. Pembina Pipeline Co. has a 12-month low of $32.81 and a 12-month high of $43.44. The stock has a market capitalization of $21.49 billion, a P/E ratio of 15.30 and a beta of 1.24. The company has a 50-day simple moving average of $41.36 and a 200 day simple moving average of $39.70. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 7.45%. Pembina Pipeline's dividend payout ratio (DPR) is presently 84.30%.

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.