Pembina Pipeline (TSE:PPL) Given New C$56.00 Price Target at Citigroup

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price objective boosted by Citigroup from C$53.00 to C$56.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports.

Several other analysts also recently commented on the stock. CIBC upped their price target on shares of Pembina Pipeline from C$59.00 to C$60.00 in a research report on Monday, July 15th. Jefferies Financial Group upped their target price on shares of Pembina Pipeline from C$56.00 to C$58.00 and gave the company a buy rating in a report on Monday, July 29th. National Bankshares boosted their price target on Pembina Pipeline from C$53.00 to C$57.00 and gave the company a sector perform rating in a research report on Friday, August 23rd. Royal Bank of Canada increased their price objective on Pembina Pipeline from C$58.00 to C$60.00 and gave the stock an outperform rating in a research report on Monday, August 12th. Finally, BMO Capital Markets lifted their target price on Pembina Pipeline from C$54.00 to C$56.00 in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Pembina Pipeline presently has a consensus rating of Moderate Buy and an average target price of C$56.62.

Pembina Pipeline Trading Down 0.5 %

TSE:PPL opened at C$53.78 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 77.50. Pembina Pipeline has a 52-week low of C$38.79 and a 52-week high of C$54.60. The stock’s 50 day moving average price is C$51.92 and its 200 day moving average price is C$49.66. The company has a market capitalization of C$31.20 billion, a PE ratio of 16.50, a P/E/G ratio of 4.80 and a beta of 1.48.

Pembina Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Monday, September 16th. Pembina Pipeline’s dividend payout ratio (DPR) is 84.66%.

Insider Activity at Pembina Pipeline

In other Pembina Pipeline news, Senior Officer Jaret Sprott sold 37,414 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$52.55, for a total transaction of C$1,965,933.60. In related news, Senior Officer J. Scott Burrows sold 3,926 shares of Pembina Pipeline stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$54.32, for a total transaction of C$213,251.68. Also, Senior Officer Jaret Sprott sold 37,414 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$52.55, for a total value of C$1,965,933.60. Insiders sold 70,374 shares of company stock valued at $3,643,660 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.

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.