The article presents an investigation of the stabilization of a cantilever pipe discharging fluid using electromagnetic actuators of the transformer type. With the flow velocity reaching a critical value, the straight equilibrium position of the pipe becomes unstable, and self-excited lateral vibrations arise. Supplying voltage to the actuators yields two opposite effects. First, each of the actuators attracts the pipe, thus introduces the effect of negative stiffness which destabilizes the middle equilibrium. Second, lateral vibrations change the gap in magnetic circuits of the actuators, which leads to oscillations of magnetic field in the cores and the electromagnetic phenomena of induction and hysteresis that impede the motion of the pipe. The combination of these two non-linear effects is ambiguous, so the problem is explored both theoretically and experimentally. First, a mathematical model of the system in form of a partial differential equation governing the dynamics of the pipe coupled with two ordinary differential equations of electro-magnetodynamics of the actuators is presented. Then, the equation of the pipe’s dynamics is discretized using the Galerkin procedure, and the resultant set of ordinary equations is solved numerically. It has been shown that the overall effect of actuators action is positive: the critical flow velocity has been increased and the amplitude of post-critical vibrations reduced. These results have been validated experimentally on a test stand.