Public Employees Retirement System of Ohio Makes New $1.96 Million Investment in Pembina Pipeline Corp. $PBA

Public Employees Retirement System of Ohio purchased a new position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,406 shares of the pipeline company’s stock, valued at approximately $1,961,000.

Several other hedge funds also recently modified their holdings of PBA. Corient Private Wealth LP acquired a new stake in shares of Pembina Pipeline in the second quarter worth $1,774,000. Bank of America Corp DE acquired a new position in Pembina Pipeline during the 2nd quarter valued at $119,209,000. Man Group plc bought a new stake in Pembina Pipeline in the 2nd quarter valued at $9,269,000. First Bancorp Inc ME bought a new stake in Pembina Pipeline in the 2nd quarter valued at $56,000. Finally, Jupiter Topco LLC acquired a new stake in Pembina Pipeline in the 2nd quarter worth $1,920,000. 55.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PBA shares. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research report on Thursday, July 16th. Scotiabank lowered Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Trading Up 0.0%

Shares of PBA stock opened at $48.42 on Monday. The firm has a fifty day moving average of $48.77 and a 200-day moving average of $46.78. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 23.74 and a beta of 0.58. Pembina Pipeline Corp. has a 52-week low of $36.20 and a 52-week high of $51.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. On average, equities research analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 15th. Pembina Pipeline’s dividend payout ratio is currently 104.41%.

Pembina Pipeline Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.