Cerity Partners LLC Acquires 12,081 Shares of Pembina Pipeline Co. (NYSE:PBA)

Cerity Partners LLC grew its holdings in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 60.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,186 shares of the pipeline company’s stock after buying an additional 12,081 shares during the quarter. Cerity Partners LLC’s holdings in Pembina Pipeline were worth $1,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Godsey & Gibb Inc. bought a new position in Pembina Pipeline in the third quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new position in Pembina Pipeline in the third quarter worth approximately $26,000. Blue Trust Inc. grew its stake in Pembina Pipeline by 223.8% in the third quarter. Blue Trust Inc. now owns 735 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 508 shares in the last quarter. CENTRAL TRUST Co grew its stake in Pembina Pipeline by 65.0% in the third quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 325 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Pembina Pipeline by 30.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after purchasing an additional 387 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of PBA opened at $40.17 on Wednesday. Pembina Pipeline Co. has a 12 month low of $32.39 and a 12 month high of $43.44. The stock has a fifty day moving average price of $41.96 and a 200-day moving average price of $39.55. 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 cap of $23.32 billion, a PE ratio of 16.60 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is currently 84.30%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group assumed coverage on Pembina Pipeline in a research note on Wednesday, September 11th. They issued a “neutral” rating on the stock. Citigroup upped their target price on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, Raymond James initiated coverage on Pembina Pipeline in a report on Friday, October 11th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.50.

About Pembina Pipeline

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.