Cardinal Capital Management Inc. Grows Stake in Pembina Pipeline Corp. $PBA

Cardinal Capital Management Inc. lifted its holdings in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,634,579 shares of the pipeline company’s stock after acquiring an additional 79,578 shares during the period. Pembina Pipeline accounts for approximately 4.1% of Cardinal Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Cardinal Capital Management Inc.’s holdings in Pembina Pipeline were worth $167,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PBA. Vanguard Group Inc. increased its position in Pembina Pipeline by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company’s stock valued at $1,037,512,000 after acquiring an additional 541,615 shares during the period. FIL Ltd boosted its position in Pembina Pipeline by 2.6% during the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company’s stock worth $532,541,000 after acquiring an additional 359,109 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Pembina Pipeline by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company’s stock worth $375,236,000 after purchasing an additional 94,655 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Pembina Pipeline by 17.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company’s stock worth $329,245,000 after purchasing an additional 1,304,227 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company’s stock valued at $258,724,000 after purchasing an additional 717,773 shares during the period. 55.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Royal Bank Of Canada raised their target price on shares of Pembina Pipeline from $64.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, July 20th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Pembina Pipeline Stock Up 1.8%

PBA stock opened at $48.72 on Wednesday. The firm has a market cap of $28.33 billion, a PE ratio of 23.88 and a beta of 0.57. Pembina Pipeline Corp. has a 12 month low of $35.49 and a 12 month high of $51.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The firm has a 50 day simple moving average of $48.38 and a 200 day simple moving average of $45.96.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%.The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. Equities research analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 6.0%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 104.41%.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation (NYSE: PBA) is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company’s asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.