Kayne Anderson Capital Advisors LP Makes New Investment in Pembina Pipeline Corp. $PBA

Kayne Anderson Capital Advisors LP bought a new position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) during the second quarter, Holdings Channel.com reports. The institutional investor bought 2,112,513 shares of the pipeline company’s stock, valued at approximately $97,704,000. Pembina Pipeline accounts for approximately 1.9% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Deutsche Bank AG purchased a new stake in shares of Pembina Pipeline in the second quarter valued at approximately $262,233,000. Norges Bank acquired a new position in Pembina Pipeline during the fourth quarter worth $213,701,000. Ontario Teachers Pension Plan Board acquired a new position in Pembina Pipeline during the second quarter worth $105,984,000. BCV Asset Management Inc. purchased a new stake in Pembina Pipeline in the 4th quarter valued at $61,412,000. Finally, Morgan Stanley grew its holdings in Pembina Pipeline by 45.4% in the 4th quarter. Morgan Stanley now owns 4,723,159 shares of the pipeline company’s stock valued at $179,763,000 after buying an additional 1,475,320 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

PBA stock opened at $49.20 on Friday. Pembina Pipeline Corp. has a 52-week low of $36.20 and a 52-week high of $51.58. The company has a quick ratio of 0.50, a current ratio of 0.62 and a debt-to-equity ratio of 0.78. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 24.12 and a beta of 0.57. The business has a fifty day moving average of $48.42 and a two-hundred day moving average of $46.35.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced 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). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, research analysts anticipate that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on PBA. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a report on Friday, July 3rd. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Royal Bank Of Canada upped their price objective on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings cut shares of Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pembina Pipeline has an average rating of “Moderate Buy” and an average price target of $64.00.

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.