Pembina Pipeline (TSE:PPL) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Pembina Pipeline (TSE:PPL) (NYSE:PBA) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The brokerage currently has C$57.00 target price on the stock, down from their previous target price of C$63.00.

PPL has been the topic of several other reports. Royal Bank of Canada increased their target price on shares of Pembina Pipeline from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on Pembina Pipeline from C$60.00 to C$62.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Raymond James reduced their target price on shares of Pembina Pipeline from C$62.00 to C$61.00 in a research note on Friday, December 13th. Citigroup upped their price objective on shares of Pembina Pipeline from C$53.00 to C$56.00 in a research report on Wednesday, August 28th. Finally, UBS Group upgraded Pembina Pipeline to a “hold” rating in a research note on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$58.67.

Pembina Pipeline Price Performance

Shares of TSE:PPL opened at C$51.81 on Wednesday. The firm has a 50 day simple moving average of C$57.60 and a 200 day simple moving average of C$54.52. The company has a market cap of C$30.06 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.58 and a beta of 1.48. The company has a debt-to-equity ratio of 77.50, a current ratio of 0.69 and a quick ratio of 0.50. Pembina Pipeline has a one year low of C$44.25 and a one year high of C$60.72.

Pembina Pipeline (TSE:PPL) (NYSE:PBA) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.79 by C($0.19). The business had revenue of C$1.84 billion for the quarter, compared to the consensus estimate of C$2.03 billion. Pembina Pipeline had a net margin of 20.60% and a return on equity of 11.89%. Research analysts predict that Pembina Pipeline will post 3.439908 earnings per share for the current fiscal year.

Pembina Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.69 per share. The ex-dividend date is Monday, December 16th. This represents a $2.76 dividend on an annualized basis and a yield of 5.33%. Pembina Pipeline’s dividend payout ratio (DPR) is 84.66%.

Pembina Pipeline Company Profile

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.