Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) declared a monthly dividend on Friday, October 5th, Wall Street Journal reports. Investors of record on Thursday, October 25th will be given a dividend of 0.1472 per share by the pipeline company on Thursday, November 15th. This represents a $1.77 annualized dividend and a yield of 5.14%. The ex-dividend date is Wednesday, October 24th. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.15.
Pembina Pipeline has decreased its dividend by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 2 years. Pembina Pipeline has a dividend payout ratio of 101.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pembina Pipeline to earn $2.19 per share next year, which means the company should continue to be able to cover its $1.74 annual dividend with an expected future payout ratio of 79.5%.
PBA stock traded down $0.18 during trading on Friday, reaching $34.33. The company’s stock had a trading volume of 655,376 shares, compared to its average volume of 571,783. The firm has a market capitalization of $17.70 billion, a PE ratio of 25.81, a PEG ratio of 3.45 and a beta of 0.66. Pembina Pipeline has a 1 year low of $29.28 and a 1 year high of $36.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.51 and a current ratio of 0.70.
Pembina Pipeline (NYSE:PBA) (TSE:PPL) last posted its quarterly earnings data on Thursday, November 1st. The pipeline company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.13. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.64 billion. Pembina Pipeline had a net margin of 18.00% and a return on equity of 11.01%. The business’s revenue for the quarter was up 95.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. On average, sell-side analysts forecast that Pembina Pipeline will post 1.69 EPS for the current fiscal year.
PBA has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Pembina Pipeline from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Zacks Investment Research cut shares of Pembina Pipeline from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 9th. Raymond James restated a “buy” rating on shares of Pembina Pipeline in a research note on Tuesday. CIBC restated a “buy” rating on shares of Pembina Pipeline in a research report on Friday, November 2nd. Finally, National Bank Financial restated a “buy” rating on shares of Pembina Pipeline in a research report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Pembina Pipeline has an average rating of “Buy” and an average price target of $40.00.
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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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