Cardinal Capital Management Inc. Acquires 12,573 Shares of 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 Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,936,644 shares of the pipeline company's stock after purchasing an additional 12,573 shares during the period. Pembina Pipeline comprises 3.5% of Cardinal Capital Management Inc.'s portfolio, 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 reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in Pembina Pipeline by 8.9% during the second quarter. Farther Finance Advisors LLC now owns 3,774 shares of the pipeline company's stock valued at $142,000 after acquiring an additional 307 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in Pembina Pipeline by 15.9% during the second quarter. Miller Howard Investments Inc. NY now owns 508,891 shares of the pipeline company's stock valued at $19,089,000 after acquiring an additional 69,937 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Pembina Pipeline by 2.8% during the second quarter. Assenagon Asset Management S.A. now owns 20,304 shares of the pipeline company's stock valued at $761,000 after acquiring an additional 544 shares in the last quarter. Canoe Financial LP purchased a new position in Pembina Pipeline during the second quarter valued at $5,073,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Pembina Pipeline by 7.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 19,531 shares of the pipeline company's stock valued at $729,000 after acquiring an additional 1,349 shares in the last quarter. 55.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PBA shares. 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. Wells Fargo & Company cut shares of Pembina Pipeline from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Pembina Pipeline from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Tuesday, June 3rd. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Pembina Pipeline in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of "Moderate Buy".

Pembina Pipeline Trading Up 1.4%

Shares of Pembina Pipeline stock traded up $0.54 during trading on Tuesday, hitting $40.26. The stock had a trading volume of 613,601 shares, compared to its average volume of 1,334,044. The firm's fifty day simple moving average is $37.58 and its 200-day simple moving average is $37.78. The stock has a market cap of $23.39 billion, a PE ratio of 18.90 and a beta of 0.79. 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.

Pembina Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 7.1%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's payout ratio is 96.24%.

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.