Addenda Capital Inc. Boosts Stake in Pembina Pipeline Corp. $PBA

Key Points

• Addenda Capital Inc. increased its stake in Pembina Pipeline Corp. by 14.5% in the 2nd quarter, reaching a total of 627,890 shares valued at approximately $23.55 million.
• The company has recently raised its quarterly dividend from $0.51 to $0.71 per share, reflecting a 7.1% dividend yield.
• Pembina Pipeline's stock has a consensus rating of "Moderate Buy", with multiple analysts issuing upgrades and downgrades in recent months.

Addenda Capital Inc. lifted its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,890 shares of the pipeline company's stock after buying an additional 79,425 shares during the period. Pembina Pipeline makes up 1.0% of Addenda Capital Inc.'s portfolio, making the stock its 28th biggest position. Addenda Capital Inc. owned 0.11% of Pembina Pipeline worth $23,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Pembina Pipeline by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,358 shares of the pipeline company's stock worth $604,000 after purchasing an additional 1,601 shares during the period. Versant Capital Management Inc boosted its position in shares of Pembina Pipeline by 108.3% in the first quarter. Versant Capital Management Inc now owns 1,525 shares of the pipeline company's stock worth $61,000 after buying an additional 793 shares during the period. GAMMA Investing LLC boosted its position in shares of Pembina Pipeline by 3,903.6% in the first quarter. GAMMA Investing LLC now owns 3,363 shares of the pipeline company's stock worth $135,000 after buying an additional 3,279 shares during the period. Pacifica Partners Inc. boosted its position in Pembina Pipeline by 34.2% during the first quarter. Pacifica Partners Inc. now owns 2,945 shares of the pipeline company's stock valued at $119,000 after purchasing an additional 750 shares during the last quarter. Finally, NBC Securities Inc. boosted its position in Pembina Pipeline by 165,466.7% during the first quarter. NBC Securities Inc. now owns 4,967 shares of the pipeline company's stock valued at $198,000 after purchasing an additional 4,964 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial restated an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. Wells Fargo & Company cut Pembina Pipeline from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 6th. Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. National Bankshares upgraded shares of Pembina Pipeline from a "sector perform" rating to an "outperform" rating in a research report on Thursday, June 26th. Finally, National Bank Financial raised shares of Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of "Moderate Buy".

Pembina Pipeline Stock Down 1.2%

Pembina Pipeline stock opened at $40.11 on Friday. Pembina Pipeline Corp. has a twelve month low of $34.13 and a twelve month high of $43.44. The firm has a 50 day moving average price of $37.83 and a 200-day moving average price of $37.83. The company has a market capitalization of $23.31 billion, a P/E ratio of 18.83 and a beta of 0.79. The company has a quick ratio of 0.62, a current ratio of 0.77 and a debt-to-equity ratio of 0.81.

Pembina Pipeline Increases Dividend

The business also recently disclosed 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. This is an increase from Pembina Pipeline's previous quarterly dividend of $0.51. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 7.1%. 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.

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