Korea Investment CORP Sells 88,572 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Korea Investment Corp reduced its stake in Pembina Pipeline Corp by 20.1% during Q1, selling 88,572 shares and owning approximately 0.06% of the company valued at $14.1M.
• Several institutional investors increased their holdings in Pembina Pipeline, with First Horizon Advisors growing its position by 69.9%, as institutional investors now own 55.37% of the company's stock.
• Pembina Pipeline recently announced a dividend increase to $0.71 per share, resulting in an annualized yield of 7.5%, with the ex-dividend date set for September 15th.

Korea Investment CORP lowered its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 20.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,246 shares of the pipeline company's stock after selling 88,572 shares during the period. Korea Investment CORP owned 0.06% of Pembina Pipeline worth $14,087,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after buying an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline during the first quarter worth $27,000. Larson Financial Group LLC lifted its holdings in shares of Pembina Pipeline by 53.4% during the first quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock worth $54,000 after purchasing an additional 467 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Pembina Pipeline by 100.0% during the fourth quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock worth $50,000 after purchasing an additional 675 shares during the period. Finally, Versant Capital Management Inc lifted its holdings 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 during the period. Institutional investors and hedge funds own 55.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PBA. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 26th. Finally, Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Pembina Pipeline Trading Up 0.7%

NYSE PBA traded up $0.27 during mid-day trading on Wednesday, reaching $37.68. 1,520,788 shares of the stock were exchanged, compared to its average volume of 1,418,604. Pembina Pipeline Corp. has a one year low of $34.13 and a one year high of $43.44. The stock has a 50 day simple moving average of $37.03 and a 200-day simple moving average of $37.56. The stock has a market cap of $21.89 billion, a P/E ratio of 17.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.71 per share. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. This represents a $2.84 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Monday, September 15th. Pembina Pipeline's payout ratio is 97.18%.

Pembina Pipeline Company 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.