Pembina Pipeline (PPL) Reaches New 12-Month High at $50.04
Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$50.04 and last traded at C$49.80, with a volume of 2687380 shares changing hands. The stock had previously closed at C$49.47.
PPL has been the topic of several research reports. Royal Bank of Canada upped their price target on Pembina Pipeline from C$54.00 to C$55.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. National Bank Financial dropped their target price on Pembina Pipeline from C$58.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 23rd. CIBC dropped their target price on Pembina Pipeline from C$53.00 to C$52.00 in a research report on Tuesday, January 15th. GMP Securities increased their target price on Pembina Pipeline from C$56.00 to C$58.00 in a research report on Tuesday, February 5th. Finally, BMO Capital Markets dropped their target price on Pembina Pipeline from C$54.00 to C$53.00 in a research report on Tuesday, December 11th. Five investment analysts have rated the stock with a buy rating, Pembina Pipeline has an average rating of “Buy” and an average target price of C$55.27.
The company has a debt-to-equity ratio of 52.33, a current ratio of 0.68 and a quick ratio of 0.50. The stock has a market capitalization of $25.03 billion and a price-to-earnings ratio of 21.89.
The business also recently announced a monthly dividend, which will be paid on Friday, March 15th. Shareholders of record on Monday, February 25th will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, February 22nd. Pembina Pipeline’s dividend payout ratio is presently 98.55%.
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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