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

Cardinal Capital Management Inc. lifted its stake in shares of Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 102.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,356,398 shares of the pipeline company’s stock after purchasing an additional 3,721,819 shares during the quarter. Pembina Pipeline accounts for about 7.5% of Cardinal Capital Management Inc.’s portfolio, making the stock its 2nd largest position. Cardinal Capital Management Inc. owned about 1.26% of Pembina Pipeline worth $329,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in Pembina Pipeline in the 1st quarter valued at approximately $25,000. Tobam acquired a new stake in Pembina Pipeline in the fourth quarter valued at approximately $28,000. Dunhill Financial LLC bought a new stake in shares of Pembina Pipeline during the second quarter worth $31,000. N.E.W. Advisory Services LLC bought a new stake in shares of Pembina Pipeline during the second quarter worth $31,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Pembina Pipeline during the second quarter worth $33,000. 55.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PBA shares. Weiss Ratings upgraded Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Barclays reaffirmed an “overweight” rating on shares of Pembina Pipeline in a report on Wednesday, October 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Pembina Pipeline Stock Up 3.9%

NYSE:PBA opened at $50.08 on Friday. Pembina Pipeline Corp. has a one year low of $36.20 and a one year high of $51.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company has a market cap of $29.12 billion, a PE ratio of 24.84 and a beta of 0.62. The firm’s 50 day simple moving average is $47.68 and its 200 day simple moving average is $47.30.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. On average, research analysts anticipate that Pembina Pipeline Corp. will post 2.20 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a C$0.73 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 5.9%. Pembina Pipeline’s payout ratio is currently 103.92%.

Pembina Pipeline Profile

Pembina Pipeline Corporation is a Canadian energy infrastructure company that provides transportation and midstream services for the oil, natural gas and natural gas liquids industries. Its operations are focused primarily on Western Canada, where it connects hydrocarbon-producing regions with processing facilities, storage sites, refineries, petrochemical markets and export channels.

The company owns and operates an extensive network of pipelines and related infrastructure. Its services include hydrocarbon gathering and transportation, natural gas processing, fractionation and storage of natural gas liquids, terminalling and rail services.