Canoe Financial LP Buys Shares of 135,000 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 bought a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 135,000 shares of the pipeline company's stock, valued at approximately $5,073,000.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Pembina Pipeline by 7.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,531 shares of the pipeline company's stock worth $729,000 after purchasing an additional 1,349 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of Pembina Pipeline by 200.0% during the second quarter. Chickasaw Capital Management LLC now owns 24,000 shares of the pipeline company's stock worth $900,000 after acquiring an additional 16,000 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Pembina Pipeline by 11.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,436 shares of the pipeline company's stock valued at $129,000 after buying an additional 352 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Pembina Pipeline by 736.4% during the first quarter. Acadian Asset Management LLC now owns 36,800 shares of the pipeline company's stock worth $1,470,000 after buying an additional 32,400 shares during the period. Finally, Intech Investment Management LLC lifted its position in Pembina Pipeline by 247.0% during the 1st quarter. Intech Investment Management LLC now owns 47,233 shares of the pipeline company's stock worth $1,889,000 after acquiring an additional 33,623 shares during the period. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Performance

Shares of NYSE:PBA traded up $0.53 during trading on Tuesday, reaching $40.25. 383,408 shares of the company's stock traded hands, compared to its average volume of 1,332,938. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. Pembina Pipeline Corp. has a 12 month low of $34.13 and a 12 month high of $43.44. The company has a 50 day moving average of $37.58 and a 200-day moving average of $37.78. The stock has a market capitalization of $23.38 billion, a P/E ratio of 18.89 and a beta of 0.79.

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is presently 96.24%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PBA. Jefferies Financial Group cut Pembina Pipeline from a "buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. BMO Capital Markets restated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. 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 investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

About Pembina Pipeline

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.