50,755 Shares in Pembina Pipeline Co. (NYSE:PBA) Purchased by Public Employees Retirement System of Ohio

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

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

Wall Street Analysts Forecast Growth

PBA has been the topic of several analyst reports. Citigroup boosted their price target on shares of Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. UBS Group initiated coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating for the company. Barclays started coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Raymond James assumed coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating on the stock. Four investment 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, the company presently has an average rating of “Hold” and an average target price of $56.50.

Pembina Pipeline Trading Down 0.9 %

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

Pembina Pipeline Increases Dividend

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

Pembina Pipeline 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.