Pembina Pipeline Co. to Post Q2 2024 Earnings of $0.83 Per Share, Atb Cap Markets Forecasts (TSE:PPL)

Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA) – Equities researchers at Atb Cap Markets boosted their Q2 2024 earnings per share (EPS) estimates for shares of Pembina Pipeline in a report issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.82. The consensus estimate for Pembina Pipeline’s current full-year earnings is $3.15 per share. Atb Cap Markets also issued estimates for Pembina Pipeline’s FY2024 earnings at $3.30 EPS.

A number of other research firms also recently weighed in on PPL. BMO Capital Markets upped their target price on Pembina Pipeline from C$53.00 to C$54.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. National Bankshares raised their price target on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research note on Wednesday, June 26th. Jefferies Financial Group upped their price objective on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Citigroup increased their price objective on shares of Pembina Pipeline from C$50.00 to C$53.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Scotiabank upped their price target on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a report on Sunday, May 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$55.00.

Pembina Pipeline Stock Performance

TSE:PPL opened at C$52.94 on Thursday. The stock has a 50 day simple moving average of C$50.84 and a 200 day simple moving average of C$48.57. The stock has a market cap of C$30.68 billion, a P/E ratio of 17.02, a PEG ratio of 4.80 and a beta of 1.48. Pembina Pipeline has a 1-year low of C$38.79 and a 1-year high of C$53.20. The company has a current ratio of 1.03, a quick ratio of 0.50 and a debt-to-equity ratio of 74.45.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last announced its earnings results on Thursday, May 9th. The company reported C$0.73 EPS for the quarter, missing the consensus estimate of C$0.74 by C($0.01). Pembina Pipeline had a return on equity of 11.65% and a net margin of 20.39%. The company had revenue of C$1.54 billion for the quarter, compared to the consensus estimate of C$2.50 billion.

Insider Activity

In related news, Senior Officer Stuart Taylor sold 29,034 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$50.44, for a total value of C$1,464,474.96. In other Pembina Pipeline news, Senior Officer Stuart Taylor sold 29,034 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of C$50.44, for a total value of C$1,464,474.96. Also, Senior Officer J. Scott Burrows purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of C$50.19 per share, for a total transaction of C$50,190.00. Insiders own 0.04% of the company’s stock.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a dividend of $0.69 per share. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Monday, June 17th. This represents a $2.76 annualized dividend and a yield of 5.21%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 88.75%.

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.