BROOKFIELD Corp ON Has $182,000 Stock Position in Pembina Pipeline Corp. $PBA

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 lessened its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 69.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Pembina Pipeline by 736.4% in the first quarter. Acadian Asset Management LLC now owns 36,800 shares of the pipeline company's stock valued at $1,470,000 after purchasing an additional 32,400 shares in the last quarter. Intech Investment Management LLC raised its stake in Pembina Pipeline by 247.0% in the first quarter. Intech Investment Management LLC now owns 47,233 shares of the pipeline company's stock valued at $1,889,000 after purchasing an additional 33,623 shares in the last quarter. Focus Partners Wealth acquired a new position in Pembina Pipeline in the first quarter valued at about $312,000. Zimmer Partners LP acquired a new position in Pembina Pipeline in the first quarter valued at about $7,381,000. Finally, Guardian Partners Inc. raised its stake in Pembina Pipeline by 5.4% in the first quarter. Guardian Partners Inc. now owns 240,350 shares of the pipeline company's stock valued at $8,836,000 after purchasing an additional 12,371 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analysts Forecast Growth

PBA has been the subject of a number of analyst reports. Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wells Fargo & Company cut Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Finally, National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. One investment 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Pembina Pipeline Trading Up 0.2%

Shares of NYSE:PBA traded up $0.09 during midday trading on Wednesday, hitting $39.44. 268,274 shares of the stock were exchanged, compared to its average volume of 1,341,422. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 18.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77. The business's 50-day moving average price is $37.34 and its 200 day moving average price is $37.73. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.2%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is presently 96.24%.

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.