Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) declared a monthly dividend on Thursday, July 5th, NASDAQ reports. Stockholders of record on Wednesday, July 25th will be given a dividend of 0.145 per share by the pipeline company on Wednesday, August 15th. This represents a $1.74 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Tuesday, July 24th. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.13.
Pembina Pipeline has decreased its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Pembina Pipeline has a dividend payout ratio of 114.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pembina Pipeline to earn $2.36 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 96.6%.
NYSE PBA opened at $34.63 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The firm has a market cap of $17.32 billion, a PE ratio of 26.04, a PEG ratio of 2.87 and a beta of 0.66. Pembina Pipeline has a 1-year low of $29.28 and a 1-year high of $36.99.
Several equities research analysts have recently commented on the company. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. Zacks Investment Research lowered Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $37.00.
About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.
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