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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,926 shares of the pipeline company’s stock after purchasing an additional 16,623 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Pembina Pipeline were worth $5,416,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quantbot Technologies LP increased its holdings in shares of Pembina Pipeline by 66.3% during the second quarter. Quantbot Technologies LP now owns 76,566 shares of the pipeline company’s stock worth $2,872,000 after buying an additional 30,523 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its holdings in shares of Pembina Pipeline by 8.6% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 309,779 shares of the pipeline company’s stock valued at $12,528,000 after acquiring an additional 24,400 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Pembina Pipeline during the 2nd quarter worth $1,658,000. First Trust Advisors LP increased its holdings in Pembina Pipeline by 411.1% in the 2nd quarter. First Trust Advisors LP now owns 1,247,976 shares of the pipeline company’s stock worth $46,820,000 after purchasing an additional 1,003,819 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Pembina Pipeline by 14.1% in the second quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock valued at $61,139,000 after purchasing an additional 201,096 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Pembina Pipeline Stock Performance

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

About Pembina Pipeline

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.