Pembina Pipeline (TSE:PPL) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Pembina Pipeline (TSE:PPL) (NYSE:PBA) from an overweight rating to an equal weight rating in a research note released on Wednesday, MarketBeat reports. Wells Fargo & Company currently has C$57.00 price target on the stock, down from their previous price target of C$63.00.

A number of other brokerages also recently commented on PPL. Raymond James cut their target price on shares of Pembina Pipeline from C$62.00 to C$61.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Pembina Pipeline from C$60.00 to C$62.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. BMO Capital Markets reduced their price objective on Pembina Pipeline from C$61.00 to C$59.00 in a research note on Friday, December 13th. Royal Bank of Canada upped their target price on Pembina Pipeline from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Barclays set a C$63.00 target price on Pembina Pipeline and gave the company an “overweight” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.67.

Pembina Pipeline Stock Performance

Shares of TSE:PPL opened at C$52.36 on Wednesday. The business has a 50-day moving average of C$57.36 and a two-hundred day moving average of C$54.55. The firm has a market capitalization of C$30.38 billion, a PE ratio of 16.06, a P/E/G ratio of 1.58 and a beta of 1.48. The company has a debt-to-equity ratio of 77.50, a current ratio of 0.69 and a quick ratio of 0.50. Pembina Pipeline has a 12 month low of C$44.56 and a 12 month high of C$60.72.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its earnings results on Tuesday, November 5th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.79 by C($0.19). Pembina Pipeline had a return on equity of 11.89% and a net margin of 20.60%. The business had revenue of C$1.84 billion for the quarter, compared to analyst estimates of C$2.03 billion. As a group, research analysts forecast that Pembina Pipeline will post 3.439908 earnings per share for the current year.

Pembina Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Monday, December 16th. Pembina Pipeline’s dividend payout ratio is currently 84.66%.

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.