Pembina Pipeline Co. (PBA) to Issue Quarterly Dividend of $0.51 on June 30th

Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.5109 per share by the pipeline company on Monday, June 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Monday, June 16th. This is a 6.8% increase from Pembina Pipeline’s previous quarterly dividend of $0.48.

Pembina Pipeline has increased its dividend payment by an average of 2.8% per year over the last three years and has raised its dividend every year for the last 3 years. Pembina Pipeline has a payout ratio of 82.5% 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 $1.93 annual dividend with an expected future payout ratio of 86.5%.

Pembina Pipeline Trading Down 5.1 %

PBA opened at $37.41 on Friday. The business has a fifty day moving average price of $38.38 and a 200 day moving average price of $38.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. Pembina Pipeline has a 12 month low of $34.13 and a 12 month high of $43.44. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 15.46 and a beta of 0.81.

Pembina Pipeline (NYSE:PBA) (TSE:PPL) last released its earnings results on Thursday, May 8th. The pipeline company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.23. Pembina Pipeline had a net margin of 25.39% and a return on equity of 13.62%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. Sell-side analysts expect that Pembina Pipeline will post 2.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PBA has been the subject of a number of analyst reports. Citigroup upgraded shares of Pembina Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, March 10th. TD Securities assumed coverage on Pembina Pipeline in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.