Acorn Wealth Advisors LLC Has $301,000 Stock Position in Pembina Pipeline Co. (NYSE:PBA)

Acorn Wealth Advisors LLC lowered its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,146 shares of the pipeline company’s stock after selling 278 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Pembina Pipeline were worth $301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBA. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 71.6% during 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 purchasing an additional 1,319,709 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Pembina Pipeline by 83.2% during the 3rd quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock worth $81,498,000 after buying an additional 897,940 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pembina Pipeline by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,049,470 shares of the pipeline company’s stock valued at $167,000,000 after buying an additional 624,958 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Pembina Pipeline by 15.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,155,198 shares of the pipeline company’s stock valued at $171,360,000 after buying an additional 550,491 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Pembina Pipeline by 1,396.8% in the 3rd quarter. FMR LLC now owns 547,448 shares of the pipeline company’s stock valued at $22,573,000 after buying an additional 510,873 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA opened at $36.06 on Tuesday. The firm’s 50 day simple moving average is $36.66 and its 200 day simple moving average is $39.43. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 14.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities started coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Barclays began coverage on shares of Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Pembina Pipeline presently has a consensus rating of “Hold” and a consensus target price of $56.50.

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.