Pembina Pipeline Corp (NYSE:PBA) (TSE:PPL) announced a monthly dividend on Tuesday, January 8th, Wall Street Journal reports. Shareholders of record on Friday, January 25th will be paid a dividend of 0.1399 per share by the pipeline company on Friday, February 15th. This represents a $1.68 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, January 24th.
Pembina Pipeline has raised its dividend by an average of 6.0% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Pembina Pipeline has a payout ratio of 94.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Pembina Pipeline to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 78.3%.
Shares of NYSE:PBA opened at $32.42 on Wednesday. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 2.54 and a beta of 0.75. 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 has a one year low of $28.30 and a one year high of $36.84.
A number of brokerages have commented on PBA. Zacks Investment Research upgraded Pembina Pipeline from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, October 4th. ValuEngine upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. Raymond James restated a “buy” rating on shares of Pembina Pipeline in a report on Tuesday, November 6th. Credit Suisse Group upgraded Pembina Pipeline from a “neutral” rating to an “outperform” rating in a report on Friday, November 16th. Finally, National Bank Financial restated a “buy” rating on shares of Pembina Pipeline in a report on Friday, November 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price 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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