HighTower Advisors LLC Raises Holdings in Pembina Pipeline Co. (NYSE:PBA)

HighTower Advisors LLC raised its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,428 shares of the pipeline company’s stock after purchasing an additional 2,424 shares during the period. HighTower Advisors LLC’s holdings in Pembina Pipeline were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PBA. Kingsview Wealth Management LLC raised its holdings in Pembina Pipeline by 4.1% in the third quarter. Kingsview Wealth Management LLC now owns 6,947 shares of the pipeline company’s stock valued at $286,000 after acquiring an additional 273 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of Pembina Pipeline by 65.0% in the 3rd quarter. CENTRAL TRUST Co now owns 825 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 325 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Pembina Pipeline by 1.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,675 shares of the pipeline company’s stock valued at $770,000 after purchasing an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Pembina Pipeline by 30.2% during the 2nd 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 during the last quarter. Finally, Gold Investment Management Ltd. grew its stake in shares of Pembina Pipeline by 4.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pembina Pipeline Trading Down 0.9 %

PBA opened at $37.03 on Wednesday. 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 $32.81 and a 52 week high of $43.44. The business’s 50 day moving average is $41.36 and its two-hundred day moving average is $39.70. The firm has a market cap of $21.49 billion, a price-to-earnings ratio of 15.30 and a beta of 1.24.

Pembina Pipeline Increases Dividend

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