Cerity Partners LLC Raises Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Cerity Partners LLC increased its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 60.1% in the third quarter, HoldingsChannel.com reports. The fund owned 32,186 shares of the pipeline company’s stock after buying an additional 12,081 shares during the period. Cerity Partners LLC’s holdings in Pembina Pipeline were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its stake in Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 325 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock worth $770,000 after acquiring an additional 334 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Pembina Pipeline by 30.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares during the last quarter. Gold Investment Management Ltd. grew its position in Pembina Pipeline by 4.2% during the 3rd quarter. Gold Investment Management Ltd. now owns 11,001 shares of the pipeline company’s stock worth $453,000 after purchasing an additional 439 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Pembina Pipeline by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock worth $503,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $40.17 on Wednesday. The company has a fifty day simple moving average of $41.96 and a two-hundred day simple moving average of $39.55. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 16.60 and a beta of 1.24. 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 Co. has a 52 week low of $32.39 and a 52 week high of $43.44.

Pembina Pipeline Increases Dividend

The firm also recently declared 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 is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a dividend yield of 6.87%. Pembina Pipeline’s payout ratio is 84.30%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PBA shares. Citigroup increased their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Raymond James started coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating on the stock. Finally, UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Pembina Pipeline currently has a consensus rating of “Hold” and an average price target of $56.50.

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.