Pembina Pipeline (TSE:PPL) Sets New 52-Week High on Analyst Upgrade

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA)’s stock price reached a new 52-week high during trading on Wednesday after Jefferies Financial Group raised their price target on the stock from C$55.00 to C$56.00. Jefferies Financial Group currently has a buy rating on the stock. Pembina Pipeline traded as high as C$51.67 and last traded at C$51.47, with a volume of 235626 shares changing hands. The stock had previously closed at C$51.22.

Several other equities research analysts have also issued reports on PPL. Scotiabank boosted their price target on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the company a “sector perform” rating in a report on Sunday, May 19th. BMO Capital Markets boosted their price target on shares of Pembina Pipeline from C$53.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Stifel Nicolaus upped their target price on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a “buy” rating in a report on Friday, April 19th. TD Securities upped their target price on shares of Pembina Pipeline from C$53.00 to C$56.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Finally, CIBC upped their target price on shares of Pembina Pipeline from C$58.00 to C$59.00 and gave the stock an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Pembina Pipeline presently has an average rating of “Moderate Buy” and a consensus target price of C$54.67.

Insider Buying and Selling

In other Pembina Pipeline news, Senior Officer J. Scott Burrows sold 5,314 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$48.82, for a total transaction of C$259,429.48. In other Pembina Pipeline news, Senior Officer J. Scott Burrows sold 5,314 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of C$48.82, for a total transaction of C$259,429.48. Also, Director Henry William Sykes bought 1,984 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were acquired at an average price of C$48.44 per share, for a total transaction of C$96,098.02. Insiders have sold a total of 56,037 shares of company stock worth $2,822,669 in the last 90 days. Corporate insiders own 0.04% of the company’s stock.

Pembina Pipeline Stock Up 0.3 %

The firm has a market capitalization of C$29.76 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 4.80 and a beta of 1.48. The business’s 50-day moving average is C$50.13 and its two-hundred day moving average is C$47.88. The company has a debt-to-equity ratio of 74.45, a quick ratio of 0.50 and a current ratio of 1.03.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last announced its quarterly earnings results on Thursday, May 9th. The company reported C$0.73 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.74 by C($0.01). The firm 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 Co. will post 3.1496556 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 5.37%. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, June 17th. Pembina Pipeline’s dividend payout ratio is presently 88.75%.

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.