Pembina Pipeline (NYSE:PBA) (TSE:PPL) announced a monthly dividend on Wednesday, April 4th, Wall Street Journal reports. Stockholders of record on Wednesday, April 25th will be paid a dividend of 0.1397 per share by the pipeline company on Tuesday, May 15th. This represents a $1.68 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Tuesday, April 24th. This is an increase from Pembina Pipeline’s previous monthly dividend of $0.14.
Pembina Pipeline has decreased its dividend by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Pembina Pipeline has a dividend payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pembina Pipeline to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 85.4%.
Shares of PBA opened at $32.27 on Monday. The stock has a market capitalization of $16,243.78, a P/E ratio of 25.02 and a beta of 0.64. Pembina Pipeline has a one year low of $29.28 and a one year high of $36.99. The company has a quick ratio of 0.75, a current ratio of 0.89 and a debt-to-equity ratio of 0.64.
Separately, Zacks Investment Research raised Pembina Pipeline from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Pembina Pipeline has an average rating of “Hold” and a consensus target price of $39.00.
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About Pembina Pipeline
Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through five segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services, Midstream, and Veresen. The Conventional Pipelines segment operates approximately 10,000 kilometers of pipeline network that transports hydrocarbon liquids and extends across Alberta and parts of British Columbia, Saskatchewan, and North Dakota.
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