Cardinal Capital Management Inc. Increases Stake in Pembina Pipeline Co. (NYSE:PBA)

Cardinal Capital Management Inc. grew its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,920,900 shares of the pipeline company’s stock after acquiring an additional 37,595 shares during the period. Pembina Pipeline accounts for approximately 3.7% of Cardinal Capital Management Inc.’s portfolio, making the stock its 12th largest holding. Cardinal Capital Management Inc. owned 0.50% of Pembina Pipeline worth $107,675,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in Pembina Pipeline by 9.2% during the second quarter. American Century Companies Inc. now owns 116,037 shares of the pipeline company’s stock worth $4,305,000 after purchasing an additional 9,782 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Pembina Pipeline by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,852 shares of the pipeline company’s stock valued at $731,000 after acquiring an additional 2,983 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Pembina Pipeline by 30.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the pipeline company’s stock worth $65,000 after acquiring an additional 387 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Pembina Pipeline by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 170,826 shares of the pipeline company’s stock worth $6,337,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Pembina Pipeline by 97.2% in the 2nd quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock worth $331,439,000 after acquiring an additional 4,405,792 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PBA has been the topic of several analyst reports. Barclays assumed coverage on shares of Pembina Pipeline in a research note on Thursday, December 12th. They issued an “overweight” rating on the stock. TD Securities initiated coverage on Pembina Pipeline in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James assumed coverage on Pembina Pipeline in a research report on Friday, October 11th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company cut shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.50.

Pembina Pipeline Stock Performance

NYSE:PBA opened at $37.30 on Thursday. The stock has a 50-day moving average price of $38.58 and a 200 day moving average price of $39.66. The company has a current ratio of 0.65, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Pembina Pipeline Co. has a 12-month low of $32.81 and a 12-month high of $43.44. The stock has a market capitalization of $21.66 billion, a P/E ratio of 15.41 and a beta of 1.25.

Pembina Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 7.40%. The ex-dividend date was Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s payout ratio is currently 80.58%.

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.