Pembina Pipeline (TSE:PPL) (NYSE:PBA) announced a monthly dividend on Thursday, May 3rd, Zacks reports. Investors of record on Friday, May 25th will be paid a dividend of 0.19 per share on Friday, June 15th. This represents a $2.28 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Thursday, May 24th. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.18.
PPL stock traded down C$0.11 during midday trading on Friday, hitting C$44.36. The stock had a trading volume of 1,101,425 shares, compared to its average volume of 1,226,309. Pembina Pipeline has a 52-week low of C$37.60 and a 52-week high of C$46.17.
Pembina Pipeline (TSE:PPL) (NYSE:PBA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.51 by C$0.19. The company had revenue of C$1.72 billion for the quarter. Pembina Pipeline had a return on equity of 6.24% and a net margin of 10.28%.
Several brokerages recently weighed in on PPL. CIBC reduced their price target on Pembina Pipeline to C$53.00 in a research note on Monday, May 7th. Raymond James reduced their price target on Pembina Pipeline from C$50.00 to C$47.50 in a research note on Tuesday, April 24th. TD Securities reduced their price target on Pembina Pipeline from C$53.00 to C$51.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Scotiabank upped their price target on Pembina Pipeline from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, National Bank Financial boosted their target price on Pembina Pipeline from C$54.00 to C$55.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$51.69.
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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