Pembina Pipeline (PPL) Price Target Raised to C$58.00

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

A number of other analysts have also commented on the company. BMO Capital Markets increased their price objective on 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 Pembina Pipeline from C$49.00 to C$50.00 in a research note on Friday, October 5th. JPMorgan Chase & Co. increased their price objective on Pembina Pipeline from C$55.00 to C$57.00 in a research note on Thursday, September 27th. GMP Securities increased their price objective on Pembina Pipeline from C$56.50 to C$57.00 in a research note on Tuesday, September 25th. Finally, Royal Bank of Canada increased their price objective on 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of C$53.70.

Pembina Pipeline stock opened at C$43.26 on Friday. 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 posted its quarterly earnings data on Thursday, August 2nd. The company reported C$0.42 EPS for the quarter, missing analysts’ consensus estimates of C$0.52 by C($0.10). The company had revenue of C$1.95 billion during the quarter, compared to analyst estimates of C$1.55 billion.

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

In related news, insider Cameron Goldade sold 2,000 shares of the stock in a transaction dated Thursday, September 20th. The stock was 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 Pembina Pipeline stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of C$46.52 per share, for a total transaction of C$55,824.00. Insiders have purchased 2,815 shares of company stock worth $129,248 over the last quarter.

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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