Pembina Pipeline Co. (NYSE:PBA) Announces Dividend Increase – $0.69 Per Share

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) declared a quarterly dividend on Tuesday, November 5th, RTT News reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.69 per share by the pipeline company on Tuesday, December 31st. This represents a $2.76 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Monday, December 16th. This is a positive change from Pembina Pipeline’s previous quarterly dividend of $0.50.

Pembina Pipeline has raised its dividend by an average of 1.8% per year over the last three years. Pembina Pipeline has a payout ratio of 85.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Pembina Pipeline to earn $2.45 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 83.7%.

Pembina Pipeline Stock Down 4.0 %

PBA opened at $40.54 on Thursday. The stock’s fifty day simple moving average is $41.60 and its 200 day simple moving average is $38.80. Pembina Pipeline has a 1-year low of $31.51 and a 1-year high of $43.44. The stock has a market cap of $23.53 billion, a PE ratio of 16.89 and a beta of 1.25. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.77.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Thursday, August 8th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.21. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. Pembina Pipeline had a net margin of 23.50% and a return on equity of 13.68%. The company’s revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, research analysts expect that Pembina Pipeline will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PBA shares. UBS Group started coverage on shares of Pembina Pipeline in a research report on Wednesday, September 11th. They set a “neutral” rating for the company. Citigroup lifted their price target on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, Raymond James initiated coverage on Pembina Pipeline in a research note on Friday, October 11th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

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.