Cardinal Capital Management Inc. Purchases 39,280 Shares of Pembina Pipeline Corp. $PBA

Cardinal Capital Management Inc. increased its position in Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,975,924 shares of the pipeline company’s stock after acquiring an additional 39,280 shares during the period. Pembina Pipeline comprises about 3.5% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Cardinal Capital Management Inc. owned 0.51% of Pembina Pipeline worth $120,400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PBA. State of Wyoming purchased a new position in Pembina Pipeline in the second quarter worth about $58,000. Westwood Holdings Group Inc. lifted its stake in shares of Pembina Pipeline by 14.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,629,929 shares of the pipeline company’s stock worth $61,139,000 after purchasing an additional 201,096 shares during the period. Headlands Technologies LLC purchased a new position in shares of Pembina Pipeline in the second quarter worth approximately $104,000. CANADA LIFE ASSURANCE Co grew its position in Pembina Pipeline by 1.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 693,031 shares of the pipeline company’s stock valued at $26,027,000 after buying an additional 8,829 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Pembina Pipeline during the second quarter valued at approximately $52,514,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Pembina Pipeline in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pembina Pipeline currently has an average rating of “Moderate Buy”.

Pembina Pipeline Stock Down 2.0%

PBA opened at $38.49 on Tuesday. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 19.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.41 and a current ratio of 0.53. The firm’s fifty day moving average is $38.48 and its 200 day moving average is $38.04. Pembina Pipeline Corp. has a fifty-two week low of $34.13 and a fifty-two week high of $42.40.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). The business had revenue of $911.47 million for the quarter, compared to the consensus estimate of $1.42 billion. Pembina Pipeline had a net margin of 22.17% and a return on equity of 11.59%. Pembina Pipeline’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts forecast that Pembina Pipeline Corp. will post 2.15 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.4%. The ex-dividend date is Monday, December 15th. Pembina Pipeline’s dividend payout ratio is presently 103.50%.

Pembina Pipeline Company Profile

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.