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Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its target price hoisted by Raymond James from C$50.00 to C$51.00 in a report issued on Tuesday morning. Raymond James currently has an outperform rating on the stock.
Other equities research badysts have also recently issued research reports about the company. TD Securities increased their price target on Pembina Pipeline from C$51.00 to C$52.00 in a report on Friday, August 3rd. National Bank Financial increased their price target on Pembina Pipeline from C$55.00 to C$56.00 and gave the company an outperform rating in a report on Friday, August 3rd. GMP Securities increased their price target on Pembina Pipeline from C$56.50 to C$57.00 in a report on Tuesday, September 25th. Cormark increased their price target on Pembina Pipeline from C$55.00 to C$58.00 in a report on Monday. Finally, Canaccord Genuity increased their price objective on Pembina Pipeline from C$52.00 to C$58.00 in a research report on Monday. Five badysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of C$54.50.
TSE:PPL opened at C$45.38 on Tuesday. Pembina Pipeline has a one year low of C$37.60 and a one year high of C$47.84.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, October 25th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, October 24th. This represents a $2.28 annualized dividend and a yield of 5.02%.
In related news, insider Cameron Goldade sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of C$25.96, for a total value of C$51,920.00. Also, Director Henry William Sykes acquired 1,200 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average price of C$46.52 per share, with a total value of C$55,824.00. Insiders purchased 2,400 shares of company stock valued at $110,154 over the last quarter.
Pembina Pipeline Company Profile
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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