Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) declared a monthly dividend on Wednesday, October 3rd, Zacks reports. Shareholders of record on Thursday, October 25th will be given a dividend of 0.19 per share on Thursday, November 15th. This represents a $2.28 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Wednesday, October 24th.
PPL stock opened at C$44.87 on Tuesday. Pembina Pipeline has a 1-year low of C$37.60 and a 1-year high of C$47.84.
Pembina Pipeline (TSE:PPL) (NYSE:PBA) last posted its quarterly earnings results on Thursday, August 2nd. The company reported C$0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.52 by C($0.10). Pembina Pipeline had a return on equity of 6.24% and a net margin of 10.28%. The business had revenue of C$1.95 billion during the quarter, compared to the consensus estimate of C$1.55 billion.
Several analysts have recently issued reports on the company. TD Securities upped their price objective on Pembina Pipeline from C$51.00 to C$52.00 in a report on Friday, August 3rd. National Bank Financial upped their price objective on Pembina Pipeline from C$55.00 to C$56.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. GMP Securities upped their price objective on Pembina Pipeline from C$56.50 to C$57.00 in a report on Tuesday, September 25th. Raymond James upped their price objective on Pembina Pipeline from C$48.00 to C$49.00 in a report on Thursday, July 5th. Finally, BMO Capital Markets upped their price objective on Pembina Pipeline from C$50.00 to C$52.00 in a report on Tuesday, September 11th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of C$53.20.
In related news, Director Henry William Sykes purchased 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of C$46.52 per share, for a total transaction of C$55,824.00. Also, insider Cameron Goldade sold 2,000 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of C$25.96, for a total value of C$51,920.00. Insiders have purchased a total of 2,815 shares of company stock worth $129,248 in the last 90 days.
About Pembina Pipeline
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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