Lansforsakringar Fondforvaltning AB publ Buys 16,623 Shares of Pembina Pipeline Corp. $PBA

Lansforsakringar Fondforvaltning AB publ grew its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,926 shares of the pipeline company’s stock after purchasing an additional 16,623 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Pembina Pipeline were worth $5,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mediolanum International Funds Ltd grew its stake in Pembina Pipeline by 2.0% in the 2nd quarter. Mediolanum International Funds Ltd now owns 14,760 shares of the pipeline company’s stock valued at $551,000 after buying an additional 293 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Pembina Pipeline by 2.9% during the second quarter. MAI Capital Management now owns 10,664 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 302 shares during the period. Midwest Professional Planners LTD. grew its position in shares of Pembina Pipeline by 1.9% in the second quarter. Midwest Professional Planners LTD. now owns 16,890 shares of the pipeline company’s stock valued at $634,000 after purchasing an additional 312 shares during the last quarter. PFG Investments LLC increased its stake in shares of Pembina Pipeline by 2.5% during the third quarter. PFG Investments LLC now owns 13,000 shares of the pipeline company’s stock worth $526,000 after purchasing an additional 313 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Pembina Pipeline by 0.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 56,339 shares of the pipeline company’s stock worth $2,278,000 after purchasing an additional 335 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Up 0.3%

PBA stock opened at $44.25 on Wednesday. Pembina Pipeline Corp. has a 52 week low of $34.13 and a 52 week high of $44.60. The business has a 50-day simple moving average of $40.08 and a 200 day simple moving average of $39.05. The company has a quick ratio of 0.41, a current ratio of 0.53 and a debt-to-equity ratio of 0.77. The company has a market cap of $25.71 billion, a PE ratio of 22.12 and a beta of 0.68.

Wall Street Analyst Weigh In

A number of brokerages have commented on PBA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pembina Pipeline in a report on Monday, December 29th. BMO Capital Markets restated an “outperform” rating on shares of Pembina Pipeline in a research note on Tuesday, December 16th. TD Securities lowered shares of Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Zacks Research raised shares of Pembina Pipeline from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Pembina Pipeline Company 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.