Kayne Anderson Capital Advisors LP Sells 1,440,611 Shares of Pembina Pipeline Corp. $PBA

Kayne Anderson Capital Advisors LP decreased its position in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 44.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,767,889 shares of the pipeline company’s stock after selling 1,440,611 shares during the period. Pembina Pipeline accounts for 1.6% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 16th biggest position. Kayne Anderson Capital Advisors LP owned 0.30% of Pembina Pipeline worth $71,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Pembina Pipeline by 2.2% during the third quarter. Vanguard Group Inc. now owns 26,691,827 shares of the pipeline company’s stock worth $1,079,231,000 after purchasing an additional 576,845 shares in the last quarter. JARISLOWSKY FRASER Ltd grew its stake in Pembina Pipeline by 1,894.9% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 8,814,455 shares of the pipeline company’s stock worth $356,468,000 after buying an additional 8,372,612 shares during the last quarter. CIBC Asset Management Inc increased its position in Pembina Pipeline by 47.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,547,536 shares of the pipeline company’s stock valued at $283,823,000 after buying an additional 2,427,939 shares in the last quarter. Norges Bank purchased a new stake in Pembina Pipeline in the second quarter valued at about $229,613,000. Finally, Scotia Capital Inc. raised its stake in Pembina Pipeline by 9.1% in the second quarter. Scotia Capital Inc. now owns 5,707,714 shares of the pipeline company’s stock valued at $214,245,000 after buying an additional 476,933 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Pembina Pipeline Trading Up 0.3%

Pembina Pipeline stock opened at $44.25 on Wednesday. The stock has a 50-day moving average price of $40.08 and a 200 day moving average price of $39.05. The company has a market capitalization of $25.71 billion, a price-to-earnings ratio of 22.12 and a beta of 0.68. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $44.60. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PBA shares. Zacks Research upgraded Pembina Pipeline from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a research note on Monday, December 29th. TD Securities downgraded shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Pembina Pipeline in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

About Pembina Pipeline

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.