Brokerages Set Parkland Fuel Corp (PKI) PT at $37.43

Shares of Parkland Fuel Corp (TSE:PKI) have been given an average rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$37.50.

PKI has been the subject of a number of research analyst reports. Desjardins restated a “buy” rating and set a C$36.00 target price on shares of Parkland Fuel in a report on Friday, April 20th. National Bank Financial lowered their target price on Parkland Fuel from C$37.00 to C$34.00 and set an “outperform” rating for the company in a report on Thursday, April 26th. Scotiabank raised their target price on Parkland Fuel from C$32.50 to C$34.50 and gave the company an “outperform” rating in a report on Thursday, May 3rd. TD Securities raised their target price on Parkland Fuel from C$37.00 to C$38.00 and gave the company an “action list buy” rating in a report on Friday, May 4th. Finally, CIBC raised their target price on Parkland Fuel from C$36.00 to C$37.50 in a report on Friday, May 4th.

TSE PKI opened at C$35.36 on Wednesday. Parkland Fuel has a twelve month low of C$23.41 and a twelve month high of C$35.92.

Parkland Fuel (TSE:PKI) last released its quarterly earnings results on Wednesday, May 2nd. The company reported C$0.15 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.03) by C$0.18. The business had revenue of C$3.34 billion during the quarter, compared to analysts’ expectations of C$3.28 billion. Parkland Fuel had a return on equity of 3.28% and a net margin of 0.49%.

The company also recently announced a monthly dividend, which will be paid on Wednesday, August 15th. Investors of record on Friday, July 20th will be issued a dividend of $0.098 per share. This represents a $1.18 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, July 19th.

In other Parkland Fuel news, insider De Sande Patricia Van sold 8,735 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of C$30.95, for a total value of C$270,348.25. Also, insider Richard Lorne Begg sold 18,264 shares of the stock in a transaction dated Friday, June 1st. The shares were sold at an average price of C$31.50, for a total value of C$575,316.00.

About Parkland Fuel

Parkland Fuel Corporation operates as an independent marketer and distributor of fuels and petroleum products in Canada and the United States. Its Retails Fuels segment supplies and supports a network of 1,848 retail gas stations under the Ultramar, Esso, Fas Gas Plus, Pioneer, Chevron, Race Trac, On the Run/Marché Express, Short Stop, Town Pantry, Dépanneur du Coin/Corner Store, Snack Express, Verve, and others brands, as well as operates convenience stores under the On the Run/Marché Express brand.

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Analyst Recommendations for Parkland Fuel (TSE:PKI)

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