Scotiabank Issues Pessimistic Forecast for TSE:PPL Earnings

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA) – Scotiabank reduced their FY2024 earnings estimates for shares of Pembina Pipeline in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings of $3.03 per share for the year, down from their previous forecast of $3.29. The consensus estimate for Pembina Pipeline’s current full-year earnings is $3.44 per share. Scotiabank also issued estimates for Pembina Pipeline’s FY2025 earnings at $3.10 EPS.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company cut Pembina Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from C$63.00 to C$57.00 in a research note on Wednesday, December 18th. Royal Bank of Canada raised their target price on Pembina Pipeline from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Raymond James cut their price target on shares of Pembina Pipeline from C$62.00 to C$61.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on shares of Pembina Pipeline from C$60.00 to C$62.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Finally, Barclays set a C$63.00 target price on shares of Pembina Pipeline and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Pembina Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of C$58.67.

Pembina Pipeline Price Performance

Shares of PPL opened at C$52.29 on Monday. The firm has a 50-day simple moving average of C$55.45 and a two-hundred day simple moving average of C$54.84. The company has a debt-to-equity ratio of 77.50, a current ratio of 0.69 and a quick ratio of 0.50. Pembina Pipeline has a 1-year low of C$44.56 and a 1-year high of C$60.72. The stock has a market cap of C$30.34 billion, a PE ratio of 16.04, a P/E/G ratio of 1.58 and a beta of 1.48.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its earnings results on Tuesday, November 5th. The company reported C$0.60 EPS for the quarter, missing analysts’ consensus estimates of C$0.79 by C($0.19). The business had revenue of C$1.84 billion during the quarter, compared to analysts’ expectations of C$2.03 billion. Pembina Pipeline had a net margin of 20.60% and a return on equity of 11.89%.

Pembina Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend was Monday, December 16th. Pembina Pipeline’s dividend payout ratio (DPR) is currently 84.66%.

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.