Provident Energy Stock To Go Ex-dividend Tomorrow (PVX)

NEW YORK ( TheStreet) -- The ex-dividend date for Provident Energy (NYSE: PVX) is tomorrow, March 15, 2012. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $11.96 as of 9:30 a.m. ET, the dividend yield is 4.5%.

The average volume for Provident Energy has been 1.9 million shares per day over the past 30 days. Provident Energy has a market cap of $2.99 billion and is part of the basic materials sector and energy industry. Shares are up 23.8% year to date as of the close of trading on Tuesday.

Provident Energy Ltd. engages in the natural gas liquids (NGLs) infrastructure and marketing business in Canada and the United States. The company involves in the extraction, processing, storage, transportation, and marketing of NGLs, as well as offers these services to third party customers. The company has a P/E ratio of 34, above the average energy industry P/E ratio of 22.7 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Provident Energy as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Provident Energy Ratings Report.

See our dividend calendar or top-yielding stocks list.
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