Insider Buying: Pembina Pipeline Co. (PPL) Director Buys C$44,790.00 in Stock
Pembina Pipeline Co. (TSE:PPL) (NYSE:PBA) Director Henry William Sykes bought 1,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of C$44.79 per share, for a total transaction of C$44,790.00.
Pembina Pipeline Co. (TSE:PPL) traded up C$0.19 during midday trading on Friday, reaching C$45.28. 777,000 shares of the company’s stock traded hands, compared to its average volume of 1,108,719. Pembina Pipeline Co. has a 52 week low of C$39.04 and a 52 week high of C$46.17.
The business also recently declared a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a $0.18 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.16 annualized dividend and a yield of 4.77%. Pembina Pipeline’s dividend payout ratio is 157.14%.
A number of research firms recently issued reports on PPL. J P Morgan Chase & Co raised their target price on shares of Pembina Pipeline from C$53.00 to C$55.00 in a research note on Friday. TD Securities raised their target price on shares of Pembina Pipeline from C$52.00 to C$53.00 and gave the company a “buy” rating in a research note on Monday, November 6th. National Bank Financial raised their target price on shares of Pembina Pipeline from C$50.00 to C$51.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Scotiabank raised their price target on shares of Pembina Pipeline from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 4th. Finally, CIBC raised their price target on shares of Pembina Pipeline from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 3rd. Nine investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of C$50.89.
About Pembina Pipeline
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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