Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) declared a monthly dividend on Monday, June 6th, Zacks reports. Shareholders of record on Friday, June 24th will be given a dividend of 0.166 per share by the pipeline company on Friday, July 15th. This represents a $1.99 annualized dividend and a yield of 4.70%. The ex-dividend date is Thursday, June 23rd. This is a boost from Pembina Pipeline’s previous monthly dividend of $0.16.
Pembina Pipeline has increased its dividend by an average of 5.2% annually over the last three years. Pembina Pipeline has a dividend payout ratio of 87.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Pembina Pipeline to earn $2.41 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 81.3%.
Pembina Pipeline stock opened at $42.34 on Wednesday. The firm’s 50 day moving average price is $39.06 and its two-hundred day moving average price is $34.79. Pembina Pipeline has a twelve month low of $28.89 and a twelve month high of $42.41. The firm has a market cap of $23.47 billion, a PE ratio of 23.28, a P/E/G ratio of 5.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.46 and a current ratio of 0.55.
A number of brokerages recently issued reports on PBA. TheStreet upgraded shares of Pembina Pipeline from a “c” rating to a “b-” rating in a research report on Wednesday, May 25th. Raymond James lifted their price objective on shares of Pembina Pipeline from C$49.50 to C$50.00 in a research note on Friday, May 6th. Canaccord Genuity Group lifted their price objective on shares of Pembina Pipeline from C$54.00 to C$56.00 and gave the stock a “buy” rating in a research note on Thursday, May 19th. StockNews.com initiated coverage on shares of Pembina Pipeline in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, National Bank Financial lifted their price objective on shares of Pembina Pipeline from C$45.00 to C$48.00 in a report on Monday, May 9th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $51.11.
A number of large investors have recently modified their holdings of PBA. Atria Wealth Solutions Inc. purchased a new stake in Pembina Pipeline in the 1st quarter worth about $200,000. Private Advisor Group LLC purchased a new position in Pembina Pipeline during the 1st quarter valued at about $213,000. Capital International Investors bought a new stake in shares of Pembina Pipeline during the 1st quarter valued at about $218,000. Glenmede Trust Co. NA boosted its position in shares of Pembina Pipeline by 12.8% during the 4th quarter. Glenmede Trust Co. NA now owns 10,125 shares of the pipeline company’s stock valued at $306,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Pembina Pipeline during the 4th quarter valued at about $307,000. Institutional investors and hedge funds own 55.44% of the company’s stock.
Pembina Pipeline Company Profile (Get Rating)
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.
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