Pembina Pipeline Corp. $PBA Shares Acquired by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management increased its Pembina Pipeline stake by 2.2% in the second quarter, owning 3.63 million shares valued at approximately $167.8 million. Institutional investors and hedge funds collectively own 55.37% of the company.
• Pembina reported quarterly EPS of $0.48, slightly below the $0.49 consensus estimate, while revenue rose 20.1% year over year to $1.07 billion but came in below expectations.
• The company declared a quarterly dividend of $0.735 per share, or $2.94 annually, representing a 6.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $64, compared with a share price of $48.72.

Cardinal Capital Management Inc. increased its stake in Pembina Pipeline Corp. (NYSE:PBA - Free Report) TSE: PPL by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,634,579 shares of the pipeline company's stock after buying an additional 79,578 shares during the period. Pembina Pipeline comprises about 4.1% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 8th largest position. Cardinal Capital Management Inc. owned approximately 0.63% of Pembina Pipeline worth $167,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Pembina Pipeline by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 27,233,442 shares of the pipeline company's stock worth $1,037,512,000 after acquiring an additional 541,615 shares in the last quarter. FIL Ltd increased its position in shares of Pembina Pipeline by 2.6% in the 4th quarter. FIL Ltd now owns 13,978,558 shares of the pipeline company's stock worth $532,541,000 after purchasing an additional 359,109 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Pembina Pipeline by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,828,960 shares of the pipeline company's stock valued at $375,236,000 after purchasing an additional 94,655 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Pembina Pipeline by 17.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,620,307 shares of the pipeline company's stock valued at $329,245,000 after purchasing an additional 1,304,227 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in shares of Pembina Pipeline by 12.6% during the third quarter. Scotia Capital Inc. now owns 6,425,487 shares of the pipeline company's stock worth $258,724,000 after purchasing an additional 717,773 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Pembina Pipeline Price Performance

Shares of PBA opened at $48.72 on Wednesday. The company has a market cap of $28.33 billion, a P/E ratio of 23.88 and a beta of 0.57. The stock has a fifty day moving average price of $48.38 and a 200 day moving average price of $45.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. Pembina Pipeline Corp. has a 12 month low of $35.49 and a 12 month high of $51.58.

Pembina Pipeline (NYSE:PBA - Get Free Report) TSE: PPL last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The business's quarterly revenue was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Pembina Pipeline Corp. will post 2.23 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Pembina Pipeline's dividend payout ratio (DPR) is 104.41%.

Analyst Ratings Changes

A number of equities analysts recently commented on PBA shares. Royal Bank Of Canada lifted their price target on Pembina Pipeline from $64.00 to $68.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Weiss Ratings upgraded Pembina Pipeline from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Pembina Pipeline in a report on Friday, July 3rd. BMO Capital Markets reiterated a "market perform" rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Finally, Barclays reiterated an "overweight" rating on shares of Pembina Pipeline in a research report on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation NYSE: PBA is a North American energy infrastructure company that develops, owns and operates midstream assets that transport, store and process hydrocarbons. Its core business focuses on the transportation of crude oil, natural gas liquids (NGLs) and condensate, along with gas processing, fractionation, storage and related marketing services. Pembina serves producers, refiners and other energy companies by providing pipeline capacity, terminal services and midstream solutions that link upstream production to downstream markets and export facilities.

The company's asset base is concentrated in Western Canada, including major operations in Alberta and British Columbia, and it also has operations and commercial activities that extend into the United States.

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