Parkland (TSE:PKI) Given New C$54.00 Price Target at JPMorgan Chase & Co.

Parkland (TSE:PKI) had its target price reduced by JPMorgan Chase & Co. from C$56.00 to C$54.00 in a research report released on Tuesday morning, BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on PKI. CIBC boosted their target price on shares of Parkland from C$50.00 to C$57.00 and gave the company an outperform rating in a research report on Tuesday, December 19th. BMO Capital Markets cut their price objective on shares of Parkland from C$57.00 to C$55.00 in a research report on Tuesday, April 2nd. TD Securities upped their price objective on shares of Parkland from C$52.00 to C$53.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Scotiabank upped their price objective on shares of Parkland from C$50.00 to C$60.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada cut their price objective on shares of Parkland from C$54.00 to C$50.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$51.46.

Parkland Trading Down 0.7 %

PKI stock opened at C$42.82 on Tuesday. The company has a debt-to-equity ratio of 199.87, a current ratio of 1.29 and a quick ratio of 0.73. The company has a fifty day moving average price of C$43.92 and a two-hundred day moving average price of C$43.46. Parkland has a one year low of C$30.29 and a one year high of C$47.99. The stock has a market cap of C$7.53 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 11.79 and a beta of 1.38.

Parkland (TSE:PKI) last announced its earnings results on Tuesday, February 27th. The company reported C$0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.64 by C$0.20. The company had revenue of C$7.75 billion during the quarter, compared to analysts’ expectations of C$8.41 billion. Parkland had a net margin of 1.45% and a return on equity of 15.15%. Equities analysts anticipate that Parkland will post 3.302673 EPS for the current year.

Parkland Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 22nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.27%. This is an increase from Parkland’s previous quarterly dividend of $0.34. Parkland’s dividend payout ratio is currently 53.23%.

Insider Activity

In other news, Senior Officer Robert Berthold Espey sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$43.75, for a total value of C$328,125.00. In other Parkland news, Senior Officer Darren Robert Smart sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of C$44.00, for a total transaction of C$110,000.00. Also, Senior Officer Robert Berthold Espey sold 7,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$43.75, for a total transaction of C$328,125.00. Insiders sold 42,392 shares of company stock valued at $1,867,999 over the last quarter. 20.51% of the stock is owned by company insiders.

Parkland Company Profile

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.