Pembina Pipeline Corp. $PBA Shares Sold by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON significantly reduced its stake in Pembina Pipeline Corp by 69.4%, selling 10,343 shares during the first quarter, leaving it with 4,551 shares valued at $182,000.
• Pembina Pipeline announced a quarterly dividend increase to $0.71, representing a 7.3% yield with a payout ratio of 95.77%, payable on September 29th.
• Analysts have given Pembina Pipeline a consensus rating of "Moderate Buy", with seven firms issuing positive ratings and one "Sell" rating.

BROOKFIELD Corp ON trimmed its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 69.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,551 shares of the pipeline company's stock after selling 10,343 shares during the quarter. BROOKFIELD Corp ON's holdings in Pembina Pipeline were worth $182,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Pembina Pipeline by 69.9% during the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after buying an additional 277 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline during the 1st quarter worth approximately $27,000. Larson Financial Group LLC raised its stake in shares of Pembina Pipeline by 53.4% during the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after buying an additional 467 shares during the period. Versant Capital Management Inc increased its position in shares of Pembina Pipeline by 108.3% during the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after purchasing an additional 793 shares in the last quarter. Finally, Dunhill Financial LLC increased its position in shares of Pembina Pipeline by 42.6% during the first quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company's stock worth $77,000 after purchasing an additional 575 shares in the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Stock Up 0.7%

Shares of NYSE:PBA opened at $39.01 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $37.20 and a two-hundred day moving average of $37.68. The stock has a market cap of $22.66 billion, a P/E ratio of 18.31 and a beta of 0.79. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.3%. The ex-dividend date is Monday, September 15th. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is currently 95.77%.

Wall Street Analyst Weigh In

PBA has been the subject of several research reports. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Wells Fargo & Company cut Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wall Street Zen cut Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy".

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.

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