Qtron Investments LLC Sells 11,752 Shares of Pembina Pipeline Corp. $PBA

Key Points

• Qtron Investments LLC has reduced its holdings in Pembina Pipeline Corp. by 53.3%, selling 11,752 shares and holding 10,309 shares valued at $412,000 as of the last SEC filing.
• Several institutional investors increased their stakes in Pembina Pipeline, with First Horizon Advisors Inc. boosting its stake by 69.9% during the first quarter.
• Pembina Pipeline recently declared a quarterly dividend of $0.71, marking an increase from the previous $0.51 dividend, resulting in an annual yield of 7.7%.

Qtron Investments LLC cut its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 53.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,309 shares of the pipeline company's stock after selling 11,752 shares during the quarter. Qtron Investments LLC's holdings in Pembina Pipeline were worth $412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 277 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at $27,000. Larson Financial Group LLC grew its holdings in shares of Pembina Pipeline by 53.4% in the 1st quarter. Larson Financial Group LLC now owns 1,341 shares of the pipeline company's stock valued at $54,000 after buying an additional 467 shares during the period. Dunhill Financial LLC grew its holdings in shares of Pembina Pipeline by 100.0% in the 4th quarter. Dunhill Financial LLC now owns 1,350 shares of the pipeline company's stock valued at $50,000 after buying an additional 675 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Pembina Pipeline by 108.3% in the 1st quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock valued at $61,000 after buying an additional 793 shares during the period. Institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Up 0.6%

NYSE:PBA traded up $0.2170 during trading hours on Friday, reaching $38.0570. 1,871,528 shares of the stock were exchanged, compared to its average volume of 1,333,029. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The firm has a 50 day moving average of $37.02 and a 200 day moving average of $37.53. The stock has a market cap of $22.11 billion, a PE ratio of 17.87 and a beta of 0.78.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.5%. 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 presently 97.18%.

Analyst Ratings Changes

PBA has been the subject of several research analyst reports. 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 Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a report on Tuesday, June 3rd. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

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.