National Bank Financial Increases Pembina Pipeline (PPL) Price Target to C$58.00

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target raised by National Bank Financial from C$56.00 to C$58.00 in a research report report published on Friday. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. TD Securities upped their price target on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research report on Friday, August 3rd. Raymond James upped their price target on shares of Pembina Pipeline from C$48.00 to C$49.00 in a research report on Thursday, July 5th. CIBC upped their price target on shares of Pembina Pipeline from C$51.00 to C$53.00 in a research report on Friday. BMO Capital Markets upped their price target on shares of Pembina Pipeline from C$52.00 to C$54.00 in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Pembina Pipeline from C$55.00 to C$57.00 in a research report on Thursday, September 27th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Pembina Pipeline presently has an average rating of Buy and an average target price of C$53.70.

Shares of Pembina Pipeline stock traded up C$0.03 during trading on Friday, hitting C$43.26. 1,998,900 shares of the stock were exchanged, compared to its average volume of 1,223,586. Pembina Pipeline has a 12 month low of C$37.60 and a 12 month high of C$47.84.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last released its quarterly earnings results on Thursday, August 2nd. The company reported C$0.42 EPS for the quarter, missing the consensus estimate of C$0.52 by C($0.10). The firm had revenue of C$1.95 billion for the quarter, compared to analyst estimates of C$1.55 billion.

The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, October 24th. This represents a $2.28 annualized dividend and a dividend yield of 5.27%.

In related news, Director Henry William Sykes bought 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average price of C$46.52 per share, for a total transaction of C$55,824.00. Also, 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. Insiders have bought 2,815 shares of company stock valued at $129,248 in the last 90 days.

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.

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Analyst Recommendations for Pembina Pipeline (TSE:PPL)

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