Pembina Pipeline (PPL) Sets New 12-Month High at $50.48
Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) shares reached a new 52-week high on Monday . The stock traded as high as C$50.48 and last traded at C$50.40, with a volume of 325475 shares traded. The stock had previously closed at C$49.95.
Several research analysts recently weighed in on PPL shares. Royal Bank of Canada boosted their price objective on shares of Pembina Pipeline from C$54.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. National Bank Financial dropped their target price on shares of Pembina Pipeline from C$58.00 to C$57.00 and set an “outperform” rating for the company in a research report on Wednesday, January 23rd. CIBC dropped their target price on shares of Pembina Pipeline from C$53.00 to C$52.00 in a research report on Tuesday, January 15th. GMP Securities upped their target price on shares of Pembina Pipeline from C$56.00 to C$58.00 in a research report on Tuesday, February 5th. Finally, Raymond James reiterated an “outperform” rating and set a C$51.00 target price on shares of Pembina Pipeline in a research report on Monday, February 4th. Five analysts have rated the stock with a buy rating, Pembina Pipeline currently has a consensus rating of “Buy” and a consensus price target of C$55.55.
The stock has a market cap of $25.66 billion and a P/E ratio of 22.20. The company has a debt-to-equity ratio of 52.33, a quick ratio of 0.50 and a current ratio of 0.68.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 25th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Wednesday, April 24th. Pembina Pipeline’s payout ratio is 98.55%.
In other Pembina Pipeline news, Senior Officer Paul John Murphy sold 25,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of C$49.54, for a total transaction of C$1,238,390.00. Following the completion of the sale, the insider now owns 12,958 shares in the company, valued at approximately C$641,882.30.
About Pembina Pipeline (TSE:PPL)
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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