Pembina Pipeline (TSE:PPL) Hits New 52-Week High Following Analyst Upgrade

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA)’s share price hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$51.22.

Several other brokerages have also issued reports on PPL. Stifel Nicolaus raised their target price on Pembina Pipeline from C$55.00 to C$56.00 and gave the company a “buy” rating in a research report on Friday, April 19th. 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 report on Wednesday, June 26th. JPMorgan Chase & Co. lifted their price objective on Pembina Pipeline from C$51.00 to C$52.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Pembina Pipeline presently has an average rating of “Moderate Buy” and a consensus target price of C$54.67.

Insider Activity

In other news, Senior Officer Cameron Goldade sold 21,689 shares of Pembina Pipeline stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of C$50.66, for a total transaction of C$1,098,764.74. In related 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 Cameron Goldade sold 21,689 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$50.66, for a total value of C$1,098,764.74. In the last 90 days, insiders sold 56,037 shares of company stock worth $2,822,669. 0.04% of the stock is currently owned by insiders.

Pembina Pipeline Stock Up 0.3 %

The stock has a 50-day moving average of C$50.13 and a two-hundred day moving average of C$47.88. The company has a market cap of C$29.76 billion, a P/E ratio of 16.51, a P/E/G ratio of 4.80 and a beta of 1.48. 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 EPS for the quarter, missing analysts’ consensus estimates of C$0.74 by C($0.01). The company had revenue of C$1.54 billion during the quarter, compared to analysts’ expectations of C$2.50 billion. Pembina Pipeline had a return on equity of 11.65% and a net margin of 20.39%. On average, research analysts anticipate that Pembina Pipeline Co. will post 3.1496556 EPS for the current fiscal year.

Pembina Pipeline Increases Dividend

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

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.