Maryland State Retirement & Pension System Boosts Stake in Pembina Pipeline Co. (NYSE:PBA)

Maryland State Retirement & Pension System raised its position in shares of Pembina Pipeline Co. (NYSE:PBA - Free Report) TSE: PPL by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 730,863 shares of the pipeline company's stock after acquiring an additional 9,540 shares during the quarter. Maryland State Retirement & Pension System owned about 0.13% of Pembina Pipeline worth $26,991,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. PDT Partners LLC bought a new stake in Pembina Pipeline during the third quarter valued at $1,329,000. Van ECK Associates Corp boosted its position in shares of Pembina Pipeline by 8.0% during the 4th quarter. Van ECK Associates Corp now owns 225,684 shares of the pipeline company's stock worth $8,335,000 after purchasing an additional 16,762 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company's stock worth $167,000,000 after purchasing an additional 624,958 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Pembina Pipeline by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 22,903 shares of the pipeline company's stock worth $846,000 after purchasing an additional 348 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Pembina Pipeline by 32.3% during the 4th quarter. Jennison Associates LLC now owns 616,992 shares of the pipeline company's stock worth $22,786,000 after purchasing an additional 150,689 shares in the last quarter. Institutional investors own 55.37% of the company's stock.

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Pembina Pipeline Stock Down 0.7 %

Shares of PBA traded down $0.29 on Friday, reaching $39.69. The company's stock had a trading volume of 2,021,163 shares, compared to its average volume of 1,109,355. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a twelve month low of $33.83 and a twelve month high of $43.44. The stock has a market capitalization of $23.04 billion, a PE ratio of 16.40 and a beta of 1.26. The firm has a fifty day moving average of $37.28 and a 200-day moving average of $39.31.

Pembina Pipeline Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.4783 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.91 annualized dividend and a yield of 4.82%. Pembina Pipeline's dividend payout ratio (DPR) is 86.76%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PBA shares. Wells Fargo & Company cut shares of Pembina Pipeline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. TD Securities started coverage on shares of Pembina Pipeline in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup raised shares of Pembina Pipeline from a "neutral" rating to a "buy" rating in a research report on Monday, March 10th. Finally, Barclays initiated coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an "overweight" rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Pembina Pipeline currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.50.

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.