Kayne Anderson Capital Advisors LP Increases Position in Pembina Pipeline Co. (NYSE:PBA)

Kayne Anderson Capital Advisors LP increased its stake in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 15.3% in the third quarter, HoldingsChannel reports. The fund owned 4,155,198 shares of the pipeline company’s stock after purchasing an additional 550,491 shares during the period. Pembina Pipeline makes up about 4.4% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 10th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Pembina Pipeline were worth $171,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of PBA. Janney Montgomery Scott LLC boosted its stake in shares of Pembina Pipeline by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 9,475 shares of the pipeline company’s stock valued at $335,000 after purchasing an additional 538 shares during the period. Intech Investment Management LLC bought a new stake in Pembina Pipeline during the 1st quarter valued at $1,387,000. Vanguard Group Inc. boosted its position in Pembina Pipeline by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,053,531 shares of the pipeline company’s stock valued at $779,372,000 after buying an additional 460,761 shares during the period. Clearbridge Investments LLC grew its holdings in Pembina Pipeline by 10.2% in the 1st quarter. Clearbridge Investments LLC now owns 27,576 shares of the pipeline company’s stock worth $975,000 after acquiring an additional 2,549 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Pembina Pipeline by 3,170.3% in the first quarter. Bessemer Group Inc. now owns 19,491 shares of the pipeline company’s stock valued at $688,000 after acquiring an additional 18,895 shares during the period. 55.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pembina Pipeline Price Performance

Shares of PBA stock opened at $41.64 on Monday. Pembina Pipeline Co. has a twelve month low of $31.51 and a twelve month high of $43.44. The stock has a market cap of $24.17 billion, a price-to-earnings ratio of 17.21 and a beta of 1.25. The business’s fifty day moving average is $41.74 and its 200 day moving average is $39.11. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.69 per share. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.63%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.30%.

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.