2,112,513 Shares in Pembina Pipeline Corp. $PBA Purchased by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP purchased a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,112,513 shares of the pipeline company’s stock, valued at approximately $97,704,000. Pembina Pipeline accounts for about 1.9% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 14th biggest holding. Kayne Anderson Capital Advisors LP owned 0.36% of Pembina Pipeline at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in shares of Pembina Pipeline in the first quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline during the 2nd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Pembina Pipeline during the 2nd quarter valued at approximately $31,000. Tobam acquired a new stake in Pembina Pipeline in the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Pembina Pipeline in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PBA. Royal Bank Of Canada boosted their price target on shares of Pembina Pipeline from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Thursday, May 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. TD Securities reissued a “buy” rating on shares of Pembina Pipeline in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Pembina Pipeline currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Stock Performance

NYSE PBA opened at $49.20 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The stock’s 50 day simple moving average is $48.42 and its 200-day simple moving average is $46.35. The company has a market cap of $28.61 billion, a PE ratio of 24.12 and a beta of 0.57. Pembina Pipeline Corp. has a 1-year low of $36.20 and a 1-year high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Pembina Pipeline Corp. will post 2.23 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline’s payout ratio is 104.41%.

Pembina Pipeline Profile

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.