Guardian Partners Inc. Boosts Holdings in Pembina Pipeline Corp. $PBA

Key Points

• Guardian Partners Inc. increased its holdings in Pembina Pipeline Corp. by 5.4%, now owning a total of 240,350 shares valued at approximately $8.83 million.
• Pembina Pipeline recently declared a quarterly dividend of $0.71, raising its annualized dividend yield to 7.5%, a significant increase from its prior dividend of $0.51.
• Analysts have issued varied ratings on Pembina Pipeline, with National Bank Financial upgrading it to a "strong-buy," while Jefferies Financial Group downgraded from "buy" to "hold."

Guardian Partners Inc. boosted its position in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 5.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 240,350 shares of the pipeline company's stock after purchasing an additional 12,371 shares during the period. Guardian Partners Inc.'s holdings in Pembina Pipeline were worth $8,836,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Pembina Pipeline by 69.9% in the first quarter. First Horizon Advisors Inc. now owns 673 shares of the pipeline company's stock valued at $27,000 after acquiring an additional 277 shares during the last quarter. JCIC Asset Management Inc. grew its stake in shares of Pembina Pipeline by 6.8% during the first quarter. JCIC Asset Management Inc. now owns 5,133 shares of the pipeline company's stock worth $205,000 after buying an additional 325 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Pembina Pipeline by 17.0% during the first quarter. Hexagon Capital Partners LLC now owns 2,397 shares of the pipeline company's stock worth $96,000 after buying an additional 349 shares during the last quarter. Albert D Mason Inc. grew its stake in shares of Pembina Pipeline by 1.0% during the first quarter. Albert D Mason Inc. now owns 43,073 shares of the pipeline company's stock worth $1,724,000 after buying an additional 426 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Pembina Pipeline by 1.3% during the first quarter. Crossmark Global Holdings Inc. now owns 34,057 shares of the pipeline company's stock worth $1,363,000 after buying an additional 435 shares during the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Pembina Pipeline Stock Up 0.6%

Shares of NYSE PBA traded up $0.22 during trading on Friday, hitting $39.24. 1,089,123 shares of the company traded hands, compared to its average volume of 1,338,187. The business's fifty day moving average is $37.20 and its 200 day moving average is $37.68. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $43.44. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 18.42 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.77.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Pembina Pipeline's previous quarterly dividend of $0.51. Pembina Pipeline's dividend payout ratio (DPR) is currently 95.77%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Pembina Pipeline in a research note on Monday, August 11th. National Bank Financial upgraded Pembina Pipeline from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 25th. 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 report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pembina Pipeline presently 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.