Kayne Anderson Capital Advisors LP Sells 92,426 Shares of Pembina Pipeline Co. (NYSE:PBA)

Kayne Anderson Capital Advisors LP reduced its position in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,062,772 shares of the pipeline company’s stock after selling 92,426 shares during the quarter. Pembina Pipeline makes up about 3.5% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 12th largest holding. Kayne Anderson Capital Advisors LP owned approximately 0.70% of Pembina Pipeline worth $150,119,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Pembina Pipeline by 71.6% in the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after acquiring an additional 1,319,709 shares in the last quarter. AGF Management Ltd. lifted its stake in Pembina Pipeline by 612.7% in the 4th quarter. AGF Management Ltd. now owns 1,080,853 shares of the pipeline company’s stock worth $40,025,000 after purchasing an additional 929,206 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Pembina Pipeline by 18.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after purchasing an additional 624,958 shares during the last quarter. FMR LLC grew its position in shares of Pembina Pipeline by 1,396.8% during the third quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after purchasing an additional 510,873 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Pembina Pipeline by 8.1% in the third quarter. CIBC Asset Management Inc now owns 6,405,991 shares of the pipeline company’s stock worth $264,315,000 after purchasing an additional 481,285 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PBA. Barclays initiated coverage on Pembina Pipeline in a report on Thursday, December 12th. They set an “overweight” rating for the company. Wells Fargo & Company lowered shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities began coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Citigroup raised shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

Pembina Pipeline Trading Down 0.5 %

Shares of PBA opened at $38.35 on Wednesday. The firm has a market capitalization of $22.26 billion, a price-to-earnings ratio of 15.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline Co. has a 1-year low of $33.83 and a 1-year high of $43.44. The company has a 50-day moving average of $36.90 and a 200 day moving average of $39.36.

Pembina Pipeline Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.4783 per share. This represents a $1.91 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Monday, March 17th. Pembina Pipeline’s dividend payout ratio is presently 86.76%.

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.