Pembina Pipeline Corp (PPL) Receives Consensus Recommendation of “Buy” from Brokerages

Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$52.22.

A number of research analysts have recently commented on the stock. TD Securities upped their price objective on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research note on Friday, August 3rd. Raymond James dropped their price objective on shares of Pembina Pipeline from C$50.00 to C$47.50 in a research note on Tuesday, April 24th. CIBC upped their price objective on shares of Pembina Pipeline from C$51.00 to C$52.00 in a research note on Tuesday. Royal Bank of Canada upped their price objective on shares of Pembina Pipeline from C$52.00 to C$54.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd. Finally, National Bank Financial upped their price objective on shares of Pembina Pipeline from C$55.00 to C$56.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd.

In other news, Director Douglas James Arnell bought 600 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was acquired at an average price of C$44.65 per share, for a total transaction of C$26,790.00.

TSE PPL opened at C$46.34 on Thursday. Pembina Pipeline has a 12 month low of C$37.60 and a 12 month high of C$47.84.

The company also recently announced a monthly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, August 23rd.

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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Analyst Recommendations for Pembina Pipeline (TSE:PPL)

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