Pembina Pipeline Corp. $PBA Stock: Cardinal Capital Management Inc. Raises Stake

Cardinal Capital Management Inc. increased its stake in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 102.4% during the third quarter, Holdings Channel.com reports. The fund owned 7,356,398 shares of the pipeline company’s stock after buying an additional 3,721,819 shares during the period. Pembina Pipeline makes up about 7.5% of Cardinal Capital Management Inc.’s portfolio, making the stock its 2nd biggest position. Cardinal Capital Management Inc.’s holdings in Pembina Pipeline were worth $329,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triasima Portfolio Management inc. increased its position in Pembina Pipeline by 94.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 128,125 shares of the pipeline company’s stock valued at $5,733,000 after purchasing an additional 62,075 shares during the period. Columbus Macro LLC acquired a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $7,848,000. Diversified Management Inc. acquired a new position in shares of Pembina Pipeline in the 3rd quarter worth approximately $779,000. Versant Capital Management Inc lifted its position in shares of Pembina Pipeline by 23.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,187 shares of the pipeline company’s stock worth $97,000 after purchasing an additional 418 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Pembina Pipeline by 5.8% in the 2nd quarter. Tidal Investments LLC now owns 38,858 shares of the pipeline company’s stock valued at $1,797,000 after purchasing an additional 2,145 shares during the last quarter. 55.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PBA shares. BMO Capital Markets reiterated a “market perform” rating on shares of Pembina Pipeline in a research report on Friday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Pembina Pipeline in a report on Wednesday. Weiss Ratings upgraded shares of Pembina Pipeline from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Barclays reiterated an “overweight” rating on shares of Pembina Pipeline in a report on Wednesday, October 7th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Pembina Pipeline has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Pembina Pipeline Trading Up 3.9%

Shares of PBA stock opened at $50.08 on Friday. The company has a market cap of $29.12 billion, a P/E ratio of 24.84 and a beta of 0.62. The stock has a 50 day simple moving average of $47.68 and a two-hundred day simple moving average of $47.30. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.50 and a current ratio of 0.62. Pembina Pipeline Corp. has a fifty-two week low of $36.20 and a fifty-two week high of $51.58.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued 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%. Pembina Pipeline’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Research analysts forecast that Pembina Pipeline Corp. will post 2.20 earnings per share for the current year.

Pembina Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a dividend of C$0.73 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Tuesday, September 15th. Pembina Pipeline’s payout ratio is presently 103.92%.

About Pembina Pipeline

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.