Parkland (TSE:PKI – Free Report) had its price objective decreased by Royal Bank of Canada from C$49.00 to C$48.00 in a research note released on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.
Several other research analysts have also weighed in on PKI. Desjardins decreased their price objective on shares of Parkland from C$48.00 to C$46.00 and set a buy rating for the company in a report on Friday. Cormark decreased their price objective on shares of Parkland from C$53.00 to C$49.00 in a report on Friday. National Bankshares reduced their price target on shares of Parkland from C$52.00 to C$49.00 and set an outperform rating on the stock in a research report on Tuesday, July 23rd. ATB Capital reduced their price target on shares of Parkland from C$54.00 to C$52.00 and set an outperform rating on the stock in a research report on Friday. Finally, TD Securities raised their price target on shares of Parkland from C$53.00 to C$55.00 and gave the stock a buy rating in a research report on Friday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of C$50.46.
Read Our Latest Research Report on PKI
Parkland Price Performance
Parkland Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 21st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.89%. Parkland’s dividend payout ratio (DPR) is 64.52%.
Insider Transactions at Parkland
In other news, Senior Officer Marcel Teunissen bought 1,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of C$40.35 per share, with a total value of C$40,350.00. Corporate insiders own 20.51% of the company’s stock.
Parkland Company Profile
Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.
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