CIBC Boosts Pembina Pipeline (TSE:PPL) Price Target to C$59.00

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target hoisted by CIBC from C$58.00 to C$59.00 in a research report report published on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Jefferies Financial Group lifted their price objective on Pembina Pipeline from C$54.00 to C$55.00 and gave the stock a buy rating in a research note on Monday, May 13th. BMO Capital Markets lifted their price objective on Pembina Pipeline from C$53.00 to C$54.00 and gave the stock an outperform rating in a research note on Wednesday, June 26th. 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 research note on Tuesday, May 21st. JPMorgan Chase & Co. lifted their target price on Pembina Pipeline from C$51.00 to C$52.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company lifted their target price on Pembina Pipeline from C$52.00 to C$55.00 in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Pembina Pipeline has a consensus rating of Moderate Buy and an average target price of C$54.67.

Pembina Pipeline Price Performance

TSE PPL opened at C$51.19 on Wednesday. Pembina Pipeline has a fifty-two week low of C$38.79 and a fifty-two week high of C$51.67. The stock’s 50-day moving average is C$50.02 and its two-hundred day moving average is C$47.83. 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 firm has a market cap of C$29.67 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 4.80 and a beta of 1.48.

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

Pembina Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued 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 was Monday, June 17th. Pembina Pipeline’s payout ratio is presently 88.75%.

Insider Buying and Selling at Pembina Pipeline

In other Pembina Pipeline news, Senior Officer Stuart Taylor sold 29,034 shares of Pembina Pipeline stock in a transaction that occurred 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 business’s stock in a transaction that occurred 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 J. Scott Burrows sold 5,314 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$48.82, for a total value of C$259,429.48. Over the last ninety days, insiders have sold 56,037 shares of company stock valued at $2,822,669. 0.04% of the stock is currently 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.