Pembina Pipeline Corp. (PBA) Increases Dividend to $0.14 Per Share
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) announced a dividend on Thursday, September 7th, NASDAQ reports. Investors of record on Monday, September 25th will be given a dividend of 0.139 per share by the pipeline company on Friday, October 13th. The ex-dividend date of this dividend is Friday, September 22nd. This is an increase from Pembina Pipeline Corp.’s previous dividend of $0.13.
Pembina Pipeline Corp. has decreased its dividend by an average of 3.1% per year over the last three years. Pembina Pipeline Corp. has a payout ratio of 112.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pembina Pipeline Corp. to earn $1.86 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 87.1%.
Shares of Pembina Pipeline Corp. (NYSE:PBA) opened at 33.26 on Friday. Pembina Pipeline Corp. has a 52-week low of $27.44 and a 52-week high of $34.97. The company has a 50 day moving average of $32.84 and a 200 day moving average of $32.53. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 32.96 and a beta of 0.72.
Pembina Pipeline Corp. (NYSE:PBA) (TSE:PPL) last issued its quarterly earnings data on Tuesday, August 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.08. Pembina Pipeline Corp. had a net margin of 12.12% and a return on equity of 8.60%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Pembina Pipeline Corp.’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts predict that Pembina Pipeline Corp. will post $1.40 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on PBA shares. Zacks Investment Research cut shares of Pembina Pipeline Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. BidaskClub upgraded shares of Pembina Pipeline Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, AltaCorp Capital raised Pembina Pipeline Corp. from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Pembina Pipeline Corp. presently has an average rating of “Buy” and an average target price of $43.00.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation is an energy transportation and service provider. The Company operates through four segments. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate and natural gas liquids (NGL) in Alberta, British Columbia, Saskatchewan, and North Dakota, United States.
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