Public Employees Retirement System of Ohio Takes Position in Pembina Pipeline Co. (NYSE:PBA)

Public Employees Retirement System of Ohio purchased a new position in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 50,755 shares of the pipeline company’s stock, valued at approximately $2,094,000.

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

Wall Street Analyst Weigh In

PBA has been the topic of several research reports. UBS Group began coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They set a “neutral” rating on the stock. Barclays started coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Citigroup lifted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James initiated coverage on shares of Pembina Pipeline in a report on Friday, October 11th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at $37.03 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $21.49 billion, a P/E ratio of 15.30 and a beta of 1.24. The business has a 50-day moving average of $41.36 and a 200-day moving average of $39.70. Pembina Pipeline Co. has a 1 year low of $32.81 and a 1 year high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 7.45%. The ex-dividend date is Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is presently 84.30%.

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.