Pembina Pipeline Corp. $PBA Shares Sold by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC reduced its stake in Pembina Pipeline Corp. by 22.2%, selling 20,000 shares during the second quarter, bringing its total to 70,000 shares valued at approximately $2.63 million.
• Pembina Pipeline recently increased its quarterly dividend to $0.71 per share, yielding 7.1%, up from the previous dividend of $0.51.
• An analyst assessment shows a mixed outlook for Pembina Pipeline, with ratings ranging from a Strong Buy to a Sell, resulting in an average rating of "Moderate Buy."

Viking Fund Management LLC trimmed its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 22.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the pipeline company's stock after selling 20,000 shares during the period. Viking Fund Management LLC's holdings in Pembina Pipeline were worth $2,626,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 277 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Pembina Pipeline during the first quarter worth about $27,000. Larson Financial Group LLC grew 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 last quarter. Versant Capital Management Inc grew 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 last quarter. Finally, Dunhill Financial LLC increased its holdings in Pembina Pipeline by 42.6% in the first quarter. Dunhill Financial LLC now owns 1,925 shares of the pipeline company's stock worth $77,000 after purchasing an additional 575 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Pembina Pipeline Stock Up 1.3%

Shares of NYSE:PBA traded up $0.53 on Tuesday, reaching $40.25. The company had a trading volume of 383,408 shares, compared to its average volume of 1,332,938. Pembina Pipeline Corp. has a 52-week low of $34.13 and a 52-week high of $43.44. The firm's 50 day simple moving average is $37.58 and its 200-day simple moving average is $37.78. The firm has a market capitalization of $23.38 billion, a PE ratio of 18.89 and a beta of 0.79. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 represents a $2.84 annualized dividend and a yield of 7.1%. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's payout ratio is 96.24%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen cut Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. National Bankshares raised shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research note on Thursday, June 26th. Wells Fargo & Company lowered shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group cut shares of Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

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.