Kovitz Investment Group Partners LLC Invests $391,000 in Pembina Pipeline Co. (NYSE:PBA)

Kovitz Investment Group Partners LLC purchased a new stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,578 shares of the pipeline company’s stock, valued at approximately $391,000.

Several other large investors have also added to or reduced their stakes in PBA. CWM LLC boosted its holdings in Pembina Pipeline by 68.0% in the second quarter. CWM LLC now owns 5,676 shares of the pipeline company’s stock valued at $210,000 after acquiring an additional 2,298 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Pembina Pipeline by 4.5% in the second quarter. Sequoia Financial Advisors LLC now owns 11,907 shares of the pipeline company’s stock valued at $442,000 after acquiring an additional 508 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Pembina Pipeline by 3.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the pipeline company’s stock valued at $503,000 after acquiring an additional 500 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Pembina Pipeline by 37.2% in the second quarter. Assenagon Asset Management S.A. now owns 21,298 shares of the pipeline company’s stock valued at $790,000 after acquiring an additional 5,778 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in Pembina Pipeline by 2.8% in the second quarter. Cidel Asset Management Inc. now owns 249,603 shares of the pipeline company’s stock valued at $9,259,000 after acquiring an additional 6,760 shares in the last quarter. Institutional investors own 55.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PBA shares. UBS Group began coverage on shares of Pembina Pipeline in a report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Raymond James began coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Citigroup raised their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, Barclays started coverage on Pembina Pipeline in a research report on Thursday. They set an “overweight” rating for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Trading Down 0.9 %

Shares of NYSE:PBA opened at $38.62 on Friday. The stock has a 50 day moving average of $41.73 and a 200 day moving average of $39.65. The company has a market cap of $22.42 billion, a PE ratio of 15.94 and a beta of 1.24. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12-month low of $32.39 and a 12-month high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.69 per share. The ex-dividend date is Monday, December 16th. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.15%. Pembina Pipeline’s payout ratio is 84.30%.

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.