Kayne Anderson Capital Advisors LP cut its stake in shares of Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,126,330 shares of the pipeline company’s stock after selling 260,000 shares during the quarter. Pembina Pipeline makes up approximately 2.5% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 16th biggest position. Kayne Anderson Capital Advisors LP owned 0.81% of Pembina Pipeline worth $152,952,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PBA. Alberta Investment Management Corp grew its position in shares of Pembina Pipeline by 1,765.9% during the third quarter. Alberta Investment Management Corp now owns 2,564,753 shares of the pipeline company’s stock worth $95,132,000 after buying an additional 2,427,300 shares in the last quarter. Brookfield Asset Management Inc. grew its position in shares of Pembina Pipeline by 75.5% during the second quarter. Brookfield Asset Management Inc. now owns 4,689,121 shares of the pipeline company’s stock worth $174,532,000 after buying an additional 2,017,068 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Pembina Pipeline during the second quarter worth about $49,530,000. TD Asset Management Inc. grew its position in shares of Pembina Pipeline by 15.9% during the second quarter. TD Asset Management Inc. now owns 7,704,425 shares of the pipeline company’s stock worth $287,422,000 after buying an additional 1,058,770 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in shares of Pembina Pipeline by 60.4% during the second quarter. Citadel Advisors LLC now owns 2,032,588 shares of the pipeline company’s stock worth $75,727,000 after buying an additional 765,477 shares in the last quarter. 52.80% of the stock is owned by institutional investors and hedge funds.
PBA has been the subject of several recent analyst reports. Zacks Investment Research cut Pembina Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $58.00 target price on Pembina Pipeline and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, CIBC restated a “buy” rating on shares of Pembina Pipeline in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $49.00.
PBA stock traded up $0.14 during trading on Friday, hitting $35.57. 865,681 shares of the company’s stock were exchanged, compared to its average volume of 632,704. The business has a 50-day moving average price of $35.99 and a two-hundred day moving average price of $36.49. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.42 and a beta of 0.73. Pembina Pipeline Corp has a 52-week low of $28.30 and a 52-week high of $38.56. The company has a current ratio of 0.90, a quick ratio of 0.62 and a debt-to-equity ratio of 0.67.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.07. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Pembina Pipeline had a return on equity of 14.01% and a net margin of 23.79%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts anticipate that Pembina Pipeline Corp will post 2.07 earnings per share for the current fiscal year.
The firm also recently announced a nov 19 dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a dividend of $0.20 per share. Pembina Pipeline’s payout ratio is 102.26%.
Pembina Pipeline Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines division operates conventional, transmission, and oil sands and heavy oil pipeline assets with a total capacity of 3 million barrels of oil serving markets and basins across North America through conventional, transmission, and oil sand pipelines assets.
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