Pembina Pipeline Co. (NYSE:PBA) Raises Dividend to $0.16 Per Share

Pembina Pipeline Co. (NYSE:PBAGet Rating) (TSE:PPL) announced a monthly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, August 25th will be given a dividend of 0.164 per share by the pipeline company on Thursday, September 15th. This represents a $1.97 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend is Wednesday, August 24th. This is a positive change from Pembina Pipeline’s previous monthly dividend of $0.16.

Pembina Pipeline has a payout ratio of 87.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Pembina Pipeline to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.95 annual dividend with an expected future payout ratio of 81.6%.

Pembina Pipeline Stock Performance

NYSE PBA traded down $1.02 during trading on Friday, reaching $35.38. The company’s stock had a trading volume of 1,023,227 shares, compared to its average volume of 792,247. The company has a current ratio of 0.55, a quick ratio of 0.46 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 5.34 and a beta of 1.24. Pembina Pipeline has a 12 month low of $28.89 and a 12 month high of $42.74. The firm has a 50 day moving average price of $37.01 and a 200 day moving average price of $36.51.

Pembina Pipeline (NYSE:PBAGet Rating) (TSE:PPL) last posted its quarterly earnings data on Thursday, August 4th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.22. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.98 billion. Pembina Pipeline had a net margin of 14.46% and a return on equity of 11.71%. The business’s revenue for the quarter was up 62.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, equities analysts anticipate that Pembina Pipeline will post 2.27 EPS for the current fiscal year.

Institutional Trading of Pembina Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in Pembina Pipeline during the 1st quarter valued at about $200,000. Private Advisor Group LLC bought a new stake in shares of Pembina Pipeline in the 1st quarter worth approximately $213,000. Capital International Investors bought a new stake in shares of Pembina Pipeline in the 1st quarter worth approximately $218,000. Cresset Asset Management LLC raised its holdings in Pembina Pipeline by 8.6% during the 1st quarter. Cresset Asset Management LLC now owns 8,210 shares of the pipeline company’s stock valued at $309,000 after acquiring an additional 648 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Pembina Pipeline by 42.4% during the 1st quarter. Clearbridge Investments LLC now owns 13,326 shares of the pipeline company’s stock valued at $499,000 after acquiring an additional 3,971 shares during the period. 55.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PBA. Scotiabank upped their price target on shares of Pembina Pipeline from C$54.00 to C$55.00 in a report on Friday, May 6th. Credit Suisse Group raised Pembina Pipeline from a “neutral” rating to an “outperform” rating in a report on Monday, April 11th. TheStreet raised Pembina Pipeline from a “c” rating to a “b-” rating in a report on Wednesday, May 25th. National Bank Financial raised their target price on Pembina Pipeline from C$45.00 to C$48.00 in a report on Monday, May 9th. Finally, BMO Capital Markets raised their target price on Pembina Pipeline from C$54.00 to C$55.00 in a report on Friday, May 6th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.63.

About Pembina Pipeline

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Pembina Pipeline Corporation provides transportation and midstream services for the energy industry. 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 3.1 millions of barrels of oil equivalent per day, ground storage of 11 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.

Further Reading

Dividend History for Pembina Pipeline (NYSE:PBA)

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