Kovitz Investment Group Partners LLC Makes New Investment in Pembina Pipeline Corp. $PBA

Key Points

• Kovitz Investment Group Partners LLC has acquired a new position in Pembina Pipeline Corp., purchasing 9,129 shares valued at approximately $365,000 during the first quarter.
• Pembina Pipeline has recently increased its quarterly dividend from $0.51 to $0.71, representing an annualized total of $2.84 and a yield of 7.5%.
• Several research firms have adjusted their ratings for Pembina Pipeline, with Jefferies downgrading it to "hold" and National Bank Financial upgrading it to a "strong-buy." The consensus rating is currently "Moderate Buy."

Kovitz Investment Group Partners LLC purchased a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,129 shares of the pipeline company's stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBA. Gulf International Bank UK Ltd lifted its position in Pembina Pipeline by 2,610.2% during the first quarter. Gulf International Bank UK Ltd now owns 33,552 shares of the pipeline company's stock valued at $1,343,000 after purchasing an additional 32,314 shares during the period. Russell Investments Group Ltd. raised its position in Pembina Pipeline by 5.0% in the first quarter. Russell Investments Group Ltd. now owns 943,444 shares of the pipeline company's stock worth $37,719,000 after acquiring an additional 44,910 shares during the period. Eagle Global Advisors LLC increased its stake in shares of Pembina Pipeline by 8.3% in the first quarter. Eagle Global Advisors LLC now owns 111,550 shares of the pipeline company's stock worth $4,465,000 after purchasing an additional 8,570 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Pembina Pipeline in the first quarter worth $83,743,000. Finally, Virtu Financial LLC purchased a new stake in shares of Pembina Pipeline in the first quarter worth $236,000. Hedge funds and other institutional investors own 55.37% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PBA. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Wall Street Zen lowered shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group downgraded shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Pembina Pipeline presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Pembina Pipeline Stock Performance

NYSE PBA traded up $0.27 on Wednesday, hitting $37.68. 1,520,788 shares of the company's stock traded hands, compared to its average volume of 1,418,604. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. Pembina Pipeline Corp. has a 1-year low of $34.13 and a 1-year high of $43.44. The firm's 50-day moving average price is $37.03 and its two-hundred day moving average price is $37.56. The firm has a market capitalization of $21.89 billion, a PE ratio of 17.69 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is currently 97.18%.

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.