Canoe Financial LP Makes New $5.07 Million Investment in Pembina Pipeline Corp. $PBA

Key Points

• Canoe Financial LP has made a significant investment of $5.07 million in Pembina Pipeline Corp., acquiring 135,000 shares in the second quarter as reported in their latest SEC filing.
• Pembina Pipeline announced an increase in its quarterly dividend to $0.71 per share, which yields 7.1%, up from the previous $0.51 per share.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in Pembina Pipeline, reflecting strong institutional interest in the company's stock.

Canoe Financial LP purchased a new position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 135,000 shares of the pipeline company's stock, valued at approximately $5,073,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Pembina Pipeline by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 25,296,456 shares of the pipeline company's stock worth $1,011,833,000 after acquiring an additional 409,379 shares during the period. Mackenzie Financial Corp boosted its holdings in Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock worth $514,154,000 after acquiring an additional 1,331,294 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Pembina Pipeline by 78.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,088,945 shares of the pipeline company's stock worth $283,770,000 after acquiring an additional 3,108,920 shares during the period. TD Asset Management Inc raised its position in shares of Pembina Pipeline by 2.4% in the 1st quarter. TD Asset Management Inc now owns 6,950,836 shares of the pipeline company's stock valued at $277,985,000 after purchasing an additional 161,114 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in shares of Pembina Pipeline by 5.2% in the 1st quarter. Scotia Capital Inc. now owns 5,230,781 shares of the pipeline company's stock valued at $208,856,000 after purchasing an additional 260,804 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Pembina Pipeline Stock Performance

PBA stock opened at $39.83 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 0.81. The firm has a market cap of $23.14 billion, a P/E ratio of 18.70 and a beta of 0.79. Pembina Pipeline Corp. has a 12-month low of $34.13 and a 12-month high of $43.44. The stock's 50 day simple moving average is $37.46 and its 200 day simple moving average is $37.75.

Pembina Pipeline Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on PBA. National Bank Financial raised Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Jefferies Financial Group lowered Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Finally, Barclays reaffirmed an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pembina Pipeline has a consensus rating of "Moderate Buy".

Pembina Pipeline Company 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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