Pembina Pipeline (TSE:PPL) Price Target Increased to C$58.00 by Analysts at CIBC

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price objective hoisted by CIBC from C$57.00 to C$58.00 in a research note released on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on PPL. Citigroup lifted their price objective on Pembina Pipeline from C$50.00 to C$53.00 and gave the stock a neutral rating in a report on Tuesday, May 21st. Stifel Nicolaus lifted their price objective on Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a buy rating in a report on Friday, April 19th. Wells Fargo & Company lifted their price objective on Pembina Pipeline from C$52.00 to C$55.00 in a report on Thursday, March 7th. Scotiabank lifted their price objective on Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a sector perform rating in a report on Sunday, May 19th. Finally, ATB Capital lifted their price objective on Pembina Pipeline from C$55.00 to C$56.00 in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$54.50.

Pembina Pipeline Stock Up 0.3 %

PPL opened at C$50.31 on Wednesday. The company has a debt-to-equity ratio of 74.45, a current ratio of 1.03 and a quick ratio of 0.50. The business has a 50 day simple moving average of C$49.72 and a 200-day simple moving average of C$47.63. The stock has a market capitalization of C$29.16 billion, a P/E ratio of 16.19, a P/E/G ratio of 4.80 and a beta of 1.48. Pembina Pipeline has a 12 month low of C$38.79 and a 12 month high of C$51.59.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.73 EPS for the quarter, missing the consensus estimate of C$0.74 by C($0.01). The business had revenue of C$1.54 billion during the quarter, compared to analyst estimates of C$2.50 billion. Pembina Pipeline had a net margin of 20.39% and a return on equity of 11.65%. On average, equities analysts anticipate that Pembina Pipeline will post 3.1496556 earnings per share for the current fiscal year.

Pembina Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a $0.69 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.49%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.67. Pembina Pipeline’s payout ratio is currently 88.75%.

Insider Activity

In other Pembina Pipeline news, Senior Officer J. Scott Burrows acquired 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of C$50.19 per share, with a total value of C$50,190.00. In other Pembina Pipeline news, Senior Officer Stuart Taylor sold 29,034 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of C$50.44, for a total transaction of C$1,464,474.96. Also, Senior Officer J. Scott Burrows purchased 1,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of C$50.19 per share, with a total value of C$50,190.00. Insiders sold a total of 56,037 shares of company stock valued at $2,822,669 over the last quarter. Company insiders own 0.04% of the company’s stock.

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.