Pembina Pipeline Co. Plans Quarterly Dividend of $0.48 (NYSE:PBA)

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.4783 per share by the pipeline company on Monday, March 31st. This represents a $1.91 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Monday, March 17th.

Pembina Pipeline has increased its dividend payment by an average of 2.8% annually over the last three years. Pembina Pipeline has a dividend payout ratio of 85.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Pembina Pipeline to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 86.1%.

Pembina Pipeline Stock Up 6.9 %

Shares of NYSE PBA traded up $2.51 during trading hours on Friday, hitting $38.86. 2,931,492 shares of the stock were exchanged, compared to its average volume of 1,540,345. Pembina Pipeline has a 12 month low of $33.83 and a 12 month high of $43.44. The firm has a fifty day moving average price of $36.65 and a 200-day moving average price of $39.37. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 0.79. The company has a market cap of $22.56 billion, a PE ratio of 16.06 and a beta of 1.25.

Analyst Upgrades and Downgrades

PBA has been the topic of several recent analyst reports. Barclays assumed coverage on Pembina Pipeline in a research report on Thursday, December 12th. They set an “overweight” rating on the stock. Wells Fargo & Company downgraded shares of Pembina Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, TD Securities began coverage on shares of Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.50.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.