Pembina Pipeline (TSE:PPL) Price Target Increased to C$60.00 by Analysts at Royal Bank of Canada

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target lifted by Royal Bank of Canada from C$58.00 to C$60.00 in a research report released on Monday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. Scotiabank raised their target price on Pembina Pipeline from C$55.00 to C$56.00 and gave the stock a sector perform rating in a research report on Sunday, May 19th. BMO Capital Markets raised their target price on Pembina Pipeline from C$54.00 to C$56.00 in a research report on Friday, August 9th. National Bankshares raised their target price on Pembina Pipeline from C$51.00 to C$52.00 in a research report on Wednesday, June 26th. Jefferies Financial Group raised their target price on Pembina Pipeline from C$56.00 to C$58.00 and gave the stock a buy rating in a research report on Monday, July 29th. Finally, ATB Capital raised their target price on Pembina Pipeline from C$56.00 to C$58.00 in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pembina Pipeline currently has an average rating of Moderate Buy and an average target price of C$55.64.

Pembina Pipeline Price Performance

Shares of PPL stock opened at C$52.68 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.50 and a debt-to-equity ratio of 74.45. The company has a market capitalization of C$30.53 billion, a P/E ratio of 16.94, a P/E/G ratio of 4.80 and a beta of 1.48. Pembina Pipeline has a 12 month low of C$38.79 and a 12 month high of C$53.82. The stock has a 50 day moving average of C$51.57 and a two-hundred day moving average of C$49.24.

Pembina Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be paid a $0.69 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.76 annualized dividend and a dividend yield of 5.24%. Pembina Pipeline’s dividend payout ratio (DPR) is currently 88.75%.

Insider Activity

In other news, Senior Officer Stuart Taylor sold 29,034 shares of Pembina Pipeline stock in a transaction 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. In other news, Senior Officer Cameron Goldade sold 21,689 shares of Pembina Pipeline stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$50.66, for a total value of C$1,098,764.74. Also, Senior Officer Stuart Taylor sold 29,034 shares of the firm’s stock in a transaction 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. Insiders own 0.04% of the company’s stock.

Pembina Pipeline Company Profile

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.