Pembina Pipeline Corp. $PBA Shares Sold by APG Asset Management N.V.

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. lowered its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 30.8% during the first quarter, according to the company in its most recent 13F 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 SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. raised its position 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 purchasing an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline during the 1st quarter worth approximately $27,000. Dunhill Financial LLC raised its position in shares of Pembina Pipeline by 100.0% during the 4th 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 last quarter. Larson Financial Group LLC boosted its position in 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 acquiring an additional 467 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in 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 acquiring an additional 793 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PBA shares. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group lowered shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Pembina Pipeline Trading Up 0.6%

PBA stock traded up $0.22 during midday trading on Monday, reaching $37.75. 979,187 shares of the company's stock traded hands, compared to its average volume of 1,483,366. The company has a market capitalization of $21.93 billion, a P/E ratio of 17.72 and a beta of 0.79. 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 Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The business has a 50-day moving average price of $37.06 and a two-hundred day moving average price of $37.60.

Pembina Pipeline Increases Dividend

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

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.