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

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA)’s share price reached a new 52-week high during mid-day trading on Friday after National Bankshares raised their price target on the stock from C$53.00 to C$57.00. National Bankshares currently has a sector perform rating on the stock. Pembina Pipeline traded as high as C$53.93 and last traded at C$53.91, with a volume of 597834 shares traded. The stock had previously closed at C$53.34.

Other research analysts have also issued reports about the company. BMO Capital Markets raised their price objective on Pembina Pipeline from C$54.00 to C$56.00 in a research report on Friday, August 9th. Jefferies Financial Group boosted their target price on shares of Pembina Pipeline from C$56.00 to C$58.00 and gave the company a “buy” rating in a research note on Monday, July 29th. TD Securities upped their target price on Pembina Pipeline from C$53.00 to C$56.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Citigroup increased their price objective on shares of Pembina Pipeline from C$50.00 to C$53.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Tudor Pickering & Holt raised their target price on Pembina Pipeline from C$55.00 to C$56.00 in a research report on Friday, July 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$56.38.

Insider Activity at Pembina Pipeline

In other Pembina Pipeline news, Senior Officer Jaret Sprott sold 37,414 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of C$52.55, for a total transaction of C$1,965,933.60. In other Pembina Pipeline news, Senior Officer Stuart Taylor sold 29,034 shares of the firm’s stock in a transaction dated 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. Also, Senior Officer Jaret Sprott sold 37,414 shares of Pembina Pipeline stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$52.55, for a total value of C$1,965,933.60. Company insiders own 0.05% of the company’s stock.

Pembina Pipeline Stock Up 0.9 %

The company has a debt-to-equity ratio of 77.50, a current ratio of 0.69 and a quick ratio of 0.50. The stock has a market cap of C$31.22 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 4.80 and a beta of 1.48. The business has a fifty day moving average of C$51.76 and a 200 day moving average of C$49.48.

Pembina Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s dividend payout ratio is presently 84.66%.

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.