Pembina Pipeline (PPL) PT Raised to C$58.00 at Canaccord Genuity

Pembina Pipeline (TSE:PPL) (NYSE:PBA) had its price target hoisted by Canaccord Genuity from C$52.00 to C$58.00 in a research note published on Monday.

A number of other brokerages have also weighed in on PPL. TD Securities lifted their target price on Pembina Pipeline from C$51.00 to C$52.00 in a research report on Friday, August 3rd. National Bank Financial lifted their target price on Pembina Pipeline from C$55.00 to C$56.00 and gave the company an outperform rating in a research report on Friday, August 3rd. Royal Bank of Canada lifted their target price on Pembina Pipeline from C$52.00 to C$54.00 and gave the company an outperform rating in a research report on Friday, August 3rd. CIBC lifted their target price on Pembina Pipeline from C$51.00 to C$52.00 in a research report on Tuesday, August 7th. Finally, BMO Capital Markets lifted their target price on Pembina Pipeline from C$50.00 to C$52.00 in a research report on Tuesday, September 11th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of C$54.50.

PPL opened at C$45.38 on Monday. Pembina Pipeline has a 52-week low of C$37.60 and a 52-week high of C$47.84.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, October 25th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Wednesday, October 24th.

In other news, insider Cameron Goldade sold 2,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of C$25.96, for a total value of C$51,920.00. Also, Director Henry William Sykes purchased 1,200 shares of Pembina Pipeline stock in a transaction dated Monday, August 13th. The stock was bought at an average cost of C$46.52 per share, with a total value of C$55,824.00. Over the last ninety days, insiders have acquired 2,400 shares of company stock valued at $110,154.

Pembina Pipeline Company Profile

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through three divisions: Pipelines, Facilities, and Marketing & New Ventures. The company 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; and owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; transports synthetic crude oil for the Syncrude project and the Horizon project to delivery points near Edmonton, Alberta; and operates Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta.

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Analyst Recommendations for Pembina Pipeline (TSE:PPL)

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