Kayne Anderson Capital Advisors LP Cuts Stock Holdings in Pembina Pipeline Co. (NYSE:PBA)

Kayne Anderson Capital Advisors LP lowered its holdings in Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,062,772 shares of the pipeline company’s stock after selling 92,426 shares during the quarter. Pembina Pipeline comprises approximately 3.5% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 12th largest holding. Kayne Anderson Capital Advisors LP’s holdings in Pembina Pipeline were worth $150,119,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Safe Harbor Fiduciary LLC purchased a new position in Pembina Pipeline during the third quarter valued at approximately $26,000. Prospera Private Wealth LLC bought a new stake in Pembina Pipeline during the 3rd quarter valued at $26,000. Dunhill Financial LLC purchased a new position in shares of Pembina Pipeline in the 3rd quarter valued at $28,000. Versant Capital Management Inc bought a new position in shares of Pembina Pipeline in the 4th quarter worth $27,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Pembina Pipeline during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.5 %

Shares of PBA stock opened at $38.35 on Wednesday. Pembina Pipeline Co. has a fifty-two week low of $33.83 and a fifty-two week high of $43.44. The firm has a market capitalization of $22.26 billion, a PE ratio of 15.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 0.65. The stock’s 50-day simple moving average is $36.90 and its 200-day simple moving average is $39.36.

Pembina Pipeline Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays assumed coverage on Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, TD Securities assumed coverage on shares of Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Pembina Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.50.

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.