Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) declared a monthly dividend on Thursday, April 8th, Wall Street Journal reports. Stockholders of record on Friday, April 23rd will be paid a dividend of 0.1674 per share by the pipeline company on Friday, May 14th. This represents a $2.01 annualized dividend and a dividend yield of 6.88%. The ex-dividend date of this dividend is Thursday, April 22nd. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.17.
Pembina Pipeline has raised its dividend by 18.8% over the last three years and has raised its dividend annually for the last 1 consecutive years. Pembina Pipeline has a dividend payout ratio of 109.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Pembina Pipeline to earn $1.82 per share next year, which means the company may not be able to cover its $2.01 annual dividend with an expected future payout ratio of 110.4%.
Shares of NYSE:PBA opened at $29.18 on Friday. Pembina Pipeline has a fifty-two week low of $18.14 and a fifty-two week high of $30.95. The firm’s 50 day moving average price is $28.59 and its 200 day moving average price is $25.54. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. The stock has a market cap of $16.05 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.96 and a beta of 1.41.
Several research firms have recently weighed in on PBA. Desjardins downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a report on Tuesday, March 2nd. BMO Capital Markets boosted their price objective on Pembina Pipeline from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, February 26th. Canaccord Genuity reissued a “buy” rating on shares of Pembina Pipeline in a report on Monday, March 15th. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research report on Tuesday, February 9th. Finally, Credit Suisse Group raised their price objective on shares of Pembina Pipeline from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.
Pembina Pipeline Company Profile
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 3.1 millions of barrels of oil equivalent per day, ground storage of 11 millions of barrels, and rail terminalling capacity of approximately 145 thousands of barrels of oil equivalent per day serving markets and basins across North America.
See Also: Accumulation/Distribution
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