Pembina Pipeline (PPL) PT Raised to C$57.00 at GMP Securities

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price raised by GMP Securities from C$56.50 to C$57.00 in a report issued on Tuesday morning.

PPL has been the subject of a number of other research reports. Royal Bank of Canada increased their price objective on shares of Pembina Pipeline from C$52.00 to C$54.00 and gave the company an outperform rating in a research note on Friday, August 3rd. CIBC increased their price objective on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research note on Tuesday, August 7th. BMO Capital Markets increased their price objective on shares of Pembina Pipeline from C$50.00 to C$52.00 in a research note on Tuesday, September 11th. Raymond James increased their price objective on shares of Pembina Pipeline from C$48.00 to C$49.00 in a research note on Thursday, July 5th. Finally, National Bank Financial increased their price objective on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the company an outperform rating in a research note on Friday, August 3rd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of C$53.10.

Shares of Pembina Pipeline stock opened at C$44.76 on Tuesday. Pembina Pipeline has a fifty-two week low of C$37.60 and a fifty-two week high of C$47.84.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last issued its quarterly earnings results on Thursday, August 2nd. The company reported C$0.42 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.52 by C($0.10). Pembina Pipeline had a net margin of 10.28% and a return on equity of 6.24%. The company had revenue of C$1.95 billion during the quarter, compared to the consensus estimate of C$1.55 billion.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 25th will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Monday, September 24th.

In related news, insider Cameron Goldade sold 2,000 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of C$25.96, for a total transaction of C$51,920.00. Also, Director Henry William Sykes bought 1,200 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average price of C$46.52 per share, with a total value of C$55,824.00. In the last 90 days, insiders bought 2,815 shares of company stock valued at $129,248.

Pembina Pipeline Company Profile

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.

Further Reading: What is the Ex-Dividend Date in Investing?

Analyst Recommendations for Pembina Pipeline (TSE:PPL)

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