Pembina Pipeline (TSE:PPL) Downgraded by Wells Fargo & Company to Equal Weight

Wells Fargo & Company lowered shares of Pembina Pipeline (TSE:PPL) (NYSE:PBA) from an overweight rating to an equal weight rating in a research note published on Wednesday,BayStreet.CA reports. They currently have C$57.00 price target on the stock, down from their prior price target of C$63.00.

Several other analysts have also commented on PPL. Raymond James cut their target price on shares of Pembina Pipeline from C$62.00 to C$61.00 in a research note on Friday, December 13th. BMO Capital Markets dropped their price target on Pembina Pipeline from C$61.00 to C$59.00 in a research note on Friday, December 13th. National Bankshares raised their target price on shares of Pembina Pipeline from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a report on Friday, August 23rd. Royal Bank of Canada raised their price target on shares of Pembina Pipeline from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Citigroup increased their price objective on Pembina Pipeline from C$53.00 to C$56.00 in a report on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.67.

Pembina Pipeline Stock Down 2.2 %

Shares of Pembina Pipeline stock opened at C$51.81 on Wednesday. The business has a 50-day moving average of C$57.60 and a 200-day moving average of C$54.52. The company has a market capitalization of C$30.06 billion, a PE ratio of 15.89, a P/E/G ratio of 1.58 and a beta of 1.48. Pembina Pipeline has a 1-year low of C$44.25 and a 1-year high of C$60.72. The company has a debt-to-equity ratio of 77.50, a current ratio of 0.69 and a quick ratio of 0.50.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.79 by C($0.19). Pembina Pipeline had a net margin of 20.60% and a return on equity of 11.89%. The firm had revenue of C$1.84 billion for the quarter, compared to analyst estimates of C$2.03 billion. As a group, equities analysts forecast that Pembina Pipeline will post 3.439908 EPS for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.76 annualized dividend and a yield of 5.33%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 84.66%.

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.