APG Asset Management N.V. Lowers Stock Position in Pembina Pipeline Corp. $PBA

Key Points

• APG Asset Management N.V. reduced its stake in Pembina Pipeline Corp. by 30.8%, selling 24,579 shares in the first quarter, leaving it with 55,321 shares valued at approximately $2.05 million.
• The company announced a quarterly dividend increase to $0.71 per share, up from $0.51, representing a 7.6% yield and an annualized payout of $2.84.
• Pembina Pipeline's stock has a consensus rating of "Moderate Buy" with a target price of $56.00, reflecting varied opinions from analysts, including one 'Strong Buy' and one 'Sell' rating.

APG Asset Management N.V. trimmed its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 30.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,321 shares of the pipeline company's stock after selling 24,579 shares during the period. APG Asset Management N.V.'s holdings in Pembina Pipeline were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in shares of Pembina Pipeline by 69.9% in the 1st quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock worth $27,000 after purchasing an additional 277 shares during the period. JCIC Asset Management Inc. lifted its position in shares of Pembina Pipeline by 6.8% in the 1st quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock worth $205,000 after purchasing an additional 325 shares during the period. Hexagon Capital Partners LLC lifted its position in Pembina Pipeline by 17.0% during the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock valued at $96,000 after acquiring an additional 349 shares during the last quarter. Albert D Mason Inc. lifted its position in Pembina Pipeline by 1.0% during the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock valued at $1,724,000 after acquiring an additional 426 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Pembina Pipeline by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 9,883 shares of the pipeline company's stock valued at $365,000 after acquiring an additional 430 shares during the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PBA. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Barclays reissued an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded up $0.22 during midday trading on Friday, reaching $37.75. The company's stock had a trading volume of 979,187 shares, compared to its average volume of 1,477,141. The firm has a market capitalization of $21.93 billion, a PE ratio of 17.72 and a beta of 0.78. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The stock has a fifty day moving average of $37.04 and a 200 day moving average of $37.58. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

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

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.