Cardinal Capital Management Inc. Boosts Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Cardinal Capital Management Inc. has increased its holdings in Pembina Pipeline Corp. by 0.4%, now owning approximately 2,936,644 shares, valued at $110,226,000, which represents about 3.5% of their total holdings.
• Pembina Pipeline recently increased its quarterly dividend to $0.71 per share, up from $0.51, offering an attractive dividend yield of 7.1% for investors.
• Analysts maintain a consensus rating of "Moderate Buy" for Pembina Pipeline, with recommendations ranging from Strong Buy to Sell among various financial institutions.

Cardinal Capital Management Inc. lifted its position in shares of Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,936,644 shares of the pipeline company's stock after purchasing an additional 12,573 shares during the quarter. Pembina Pipeline comprises approximately 3.5% of Cardinal Capital Management Inc.'s holdings, making the stock its 13th largest holding. Cardinal Capital Management Inc. owned approximately 0.51% of Pembina Pipeline worth $110,226,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PBA. Goldman Sachs Group Inc. lifted its position in Pembina Pipeline by 78.1% during 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Pembina Pipeline by 136.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,995,460 shares of the pipeline company's stock valued at $160,681,000 after purchasing an additional 2,307,634 shares in the last quarter. Nuveen LLC acquired a new position in shares of Pembina Pipeline in the 1st quarter valued at approximately $83,743,000. Mackenzie Financial Corp raised its position in shares of Pembina Pipeline by 10.6% in the 4th quarter. Mackenzie Financial Corp now owns 13,930,847 shares of the pipeline company's stock valued at $514,154,000 after purchasing an additional 1,331,294 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Pembina Pipeline by 55.2% in the 1st quarter. Invesco Ltd. now owns 2,522,129 shares of the pipeline company's stock valued at $100,961,000 after purchasing an additional 897,386 shares in the last quarter. Hedge funds and other institutional investors own 55.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Raymond James Financial reiterated an "outperform" rating on shares of Pembina Pipeline in a report on Monday, August 11th. Wall Street Zen downgraded Pembina Pipeline from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Jefferies Financial Group downgraded Pembina Pipeline from a "buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Finally, Barclays restated an "overweight" rating on shares of Pembina Pipeline in a research note on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Pembina Pipeline Stock Up 0.5%

PBA opened at $40.03 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.77 and a quick ratio of 0.62. The company has a market capitalization of $23.25 billion, a PE ratio of 18.79 and a beta of 0.79. The business has a 50-day moving average of $37.53 and a 200-day moving average of $37.77. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44.

Pembina Pipeline Increases Dividend

The business also recently announced 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. This is a boost 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 96.24%.

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.

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