Citigroup Boosts Pembina Pipeline (TSE:PPL) Price Target to C$53.00

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target raised by Citigroup from C$50.00 to C$53.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. National Bankshares upped their price target on shares of Pembina Pipeline from C$50.00 to C$51.00 and gave the stock a sector perform rating in a research report on Monday, May 13th. Jefferies Financial Group upped their price target on shares of Pembina Pipeline from C$54.00 to C$55.00 and gave the stock a buy rating in a research report on Monday, May 13th. JPMorgan Chase & Co. upped their price target on shares of Pembina Pipeline from C$51.00 to C$52.00 and gave the stock a neutral rating in a research report on Friday, April 12th. Stifel Nicolaus increased their target price on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the company a buy rating in a research report on Friday, April 19th. Finally, TD Securities raised their target price on shares of Pembina Pipeline from C$53.00 to C$56.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Pembina Pipeline presently has a consensus rating of Moderate Buy and an average price target of C$54.25.

Pembina Pipeline Price Performance

Pembina Pipeline stock opened at C$49.79 on Tuesday. The stock has a market cap of C$28.85 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 4.80 and a beta of 1.48. The company has a debt-to-equity ratio of 74.45, a current ratio of 1.03 and a quick ratio of 0.50. Pembina Pipeline has a 1 year low of C$38.79 and a 1 year high of C$50.97. The firm has a 50-day moving average of C$48.58 and a two-hundred day moving average of C$46.71.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last released its quarterly earnings data on Thursday, February 22nd. The company reported C$1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.75 by C$0.46. The company had revenue of C$2.47 billion during the quarter, compared to analysts’ expectations of C$2.47 billion. Pembina Pipeline had a net margin of 20.39% and a return on equity of 11.65%. On average, research analysts forecast that Pembina Pipeline will post 3.1496556 earnings per share for the current year.

Pembina Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Monday, June 17th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.67. Pembina Pipeline’s dividend payout ratio (DPR) is 88.75%.

Insider Buying and Selling

In other Pembina Pipeline news, Director Henry William Sykes bought 1,984 shares of Pembina Pipeline stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average price of C$48.44 per share, with a total value of C$96,098.02. In other Pembina Pipeline news, Senior Officer Cameron Goldade sold 21,689 shares of Pembina Pipeline stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of C$50.66, for a total value of C$1,098,764.74. Also, Director Henry William Sykes acquired 1,984 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was purchased at an average cost of C$48.44 per share, with a total value of C$96,098.02. 0.04% of the stock is currently owned by corporate insiders.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. 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 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.