Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) has earned an average rating of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$54.46.
A number of analysts have commented on the stock. CSFB upgraded shares of Pembina Pipeline from a “neutral” rating to an “outperform” rating and increased their price target for the company from C$46.00 to C$54.00 in a research note on Friday, November 16th. Raymond James lifted their price objective on shares of Pembina Pipeline from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a report on Tuesday, November 6th. Canaccord Genuity lifted their price objective on shares of Pembina Pipeline from C$52.00 to C$58.00 in a report on Monday, November 5th. Cormark lifted their price objective on shares of Pembina Pipeline from C$55.00 to C$58.00 in a report on Monday, November 5th. Finally, National Bank Financial lifted their price objective on shares of Pembina Pipeline from C$56.00 to C$58.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd.
In other Pembina Pipeline news, Director Bruce D. Rubin acquired 4,000 shares of Pembina Pipeline stock in a transaction that occurred on Monday, November 19th. The stock was bought at an average cost of C$34.03 per share, for a total transaction of C$136,120.00. Also, insider Cameron Goldade sold 2,000 shares of Pembina Pipeline stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of C$25.96, for a total value of C$51,920.00.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Wednesday, November 21st. Pembina Pipeline’s payout ratio is 90.65%.
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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