Wells Fargo & Company Downgrades Pembina Pipeline (TSE:PPL) to Equal Weight

Wells Fargo & Company downgraded shares of Pembina Pipeline (TSE:PPL) (NYSE:PBA) from an overweight rating to an equal weight rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has C$57.00 target price on the stock, down from their previous target price of C$63.00.

A number of other equities analysts have also commented on PPL. National Bankshares lifted their price target on shares of 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. Raymond James cut their target price on Pembina Pipeline from C$62.00 to C$61.00 in a research note on Friday, December 13th. UBS Group upgraded shares of Pembina Pipeline to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on 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, Citigroup boosted their price target on Pembina Pipeline from C$53.00 to C$56.00 in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$58.67.

Pembina Pipeline Stock Performance

PPL stock opened at C$52.36 on Wednesday. The firm has a 50 day moving average of C$57.36 and a two-hundred day moving average of C$54.55. Pembina Pipeline has a 12 month low of C$44.56 and a 12 month high of C$60.72. The company has a market capitalization of C$30.38 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.58 and a beta of 1.48. 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 (TSE:PPL) (NYSE:PBA) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.79 by C($0.19). Pembina Pipeline had a return on equity of 11.89% and a net margin of 20.60%. The business had revenue of C$1.84 billion during the quarter, compared to the consensus estimate of C$2.03 billion. As a group, equities analysts anticipate that Pembina Pipeline will post 3.439908 EPS for the current fiscal year.

Pembina Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 5.27%. 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.