Pembina Pipeline Corp (PPL) Hits New 52-Week High on Analyst Upgrade
Shares of Pembina Pipeline Corp (TSE:PPL) (NYSE:PBA) hit a new 52-week high on Monday after TD Securities raised their price target on the stock from C$52.00 to C$53.00. TD Securities currently has a buy rating on the stock. Pembina Pipeline Corp traded as high as C$44.94 and last traded at C$44.92, with a volume of 495116 shares changing hands. The stock had previously closed at C$44.40.
Several other brokerages also recently weighed in on PPL. J P Morgan Chase & Co increased their target price on Pembina Pipeline Corp from C$52.00 to C$53.00 in a research note on Tuesday, September 26th. Scotiabank raised their price objective on Pembina Pipeline Corp from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 4th. National Bank Financial raised their price objective on Pembina Pipeline Corp from C$50.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Friday. CIBC raised their price objective on Pembina Pipeline Corp from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 3rd. Finally, AltaCorp Capital upgraded Pembina Pipeline Corp from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, July 19th. Nine analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of C$50.56.
In other Pembina Pipeline Corp news, insider Michael H. Dilger purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of C$32.32 per share, with a total value of C$323,200.00.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be given a $0.18 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 4.79%. This is a positive change from Pembina Pipeline Corp’s previous monthly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, October 24th.
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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