5 Canadian Dividend Stocks to Buy for 2022

2. Pembina Pipeline Corporation (NYSE:PBA)

Number of Hedge Fund Holders: 8
Dividend Yield: 6.95%

Pembina Pipeline Corporation (NYSE:PBA) is a Canadian pipeline transport company that also deals in the natural gas processing business. The company reported solid Q3 results, mainly driven by higher crude oil sales. Pembina Pipeline Corporation (NYSE:PBA) posted a GAAP EPS of C$1.01, beating estimates by C$0.32. Moreover, the revenue of C$2.15 billion, also presented a 43.3% growth from the prior-year quarter.

At the end of Q3 2021, 8 hedge funds reported owning stakes in Pembina Pipeline Corporation (NYSE:PBA), down from 15 in the previous quarter. These stakes hold a total value of over $62.6 million. As of the close of December 14, the stock’s year-to-date returns stood at 21.9%.

Pembina Pipeline Corporation (NYSE:PBA)’s five-year dividend growth rate is 7.15% and the company has been paying dividends consistently since 1998, which places it as one of the best Canadian dividend stocks to buy. Recently, JPMorgan initiated its coverage on Pembina Pipeline Corporation (NYSE:PBA) with a Neutral rating and a C$45 price target.