Pembina Pipeline (TSE:PPL) Price Target Increased to C$59.00 by Analysts at CIBC

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price upped by CIBC from C$58.00 to C$59.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price objective on Pembina Pipeline from C$54.00 to C$55.00 and gave the company a buy rating in a research note on Monday, May 13th. JPMorgan Chase & Co. lifted their price objective on Pembina Pipeline from C$51.00 to C$52.00 and gave the company a neutral rating in a research note on Friday, April 12th. Scotiabank lifted their price objective on Pembina Pipeline from C$55.00 to C$56.00 and gave the company a sector perform rating in a research note on Sunday, May 19th. ATB Capital lifted their price objective on Pembina Pipeline from C$55.00 to C$56.00 in a research note on Friday, April 5th. Finally, TD Securities lifted their price objective on Pembina Pipeline from C$53.00 to C$56.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pembina Pipeline presently has a consensus rating of Moderate Buy and a consensus target price of C$54.67.

Pembina Pipeline Price Performance

PPL opened at C$51.19 on Wednesday. The stock’s 50-day moving average price is C$50.02 and its 200 day moving average price is C$47.83. Pembina Pipeline has a 12-month low of C$38.79 and a 12-month high of C$51.67. The company has a current ratio of 1.03, a quick ratio of 0.50 and a debt-to-equity ratio of 74.45. The firm has a market cap of C$29.67 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 4.80 and a beta of 1.48.

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

Pembina Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 5.39%. This is an increase from Pembina Pipeline’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, June 17th. Pembina Pipeline’s payout ratio is presently 88.75%.

Insiders Place Their Bets

In other Pembina Pipeline news, Senior Officer Stuart Taylor sold 29,034 shares of the business’s stock in a transaction on 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. In other news, Senior Officer Stuart Taylor sold 29,034 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$50.44, for a total value of C$1,464,474.96. Also, Senior Officer Cameron Goldade sold 21,689 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$50.66, for a total value of C$1,098,764.74. Over the last ninety days, insiders have sold 56,037 shares of company stock worth $2,822,669. 0.04% of the stock is owned by corporate insiders.

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.