Pembina Pipeline Stock Price, News & Analysis

Pembina Pipeline (NYSE:PBA) has signed a significant long-term tolling agreement with AltaGas for LPG export capacity. The agreement secures 30,000 barrels per day of liquified petroleum gases export capacity at AltaGas' facilities, with 20,000 bpd starting April 2026 and an additional 10,000 bpd in April 2027.

Combined with Pembina's existing 20,000 bpd capacity at its Prince Rupert Terminal, the company will control 50,000 bpd of total export capacity on Canada's West Coast, providing access to premium Asian markets. This strategic agreement enhances Pembina's market diversification and strengthens its North American propane marketing capabilities.

Pembina Pipeline (NYSE:PBA) has announced a significant settlement with shippers on the Alliance Pipeline, effective from November 2025 to October 2035. The settlement includes new term-differentiated tolls that will reduce existing long-term firm tolls by an average of 14%. Key features include a 50/50 revenue sharing arrangement for biddable transportation service and the return of approximately $95 million in recoverable cost variance.

The financial impact includes an estimated $50 million annual reduction in long-term firm service revenue, plus additional revenue sharing impacts estimated at $40 million based on an AECO-Chicago natural gas spread of C$1.50/mcf. Separately, Alliance is exploring a new regional short-haul expansion project with up to 350 million cubic feet per day of incremental capacity to Alberta's Industrial Heartland, targeting late 2029 completion.

[ "New 10-year settlement provides long-term toll certainty for shippers", "Opportunity for existing shippers to extend contracts with new competitive rates", "50/50 revenue sharing arrangement aligns Alliance and shipper interests", "Potential expansion project of 350 million cubic feet per day capacity in development" ]

Pembina Pipeline Corporation (NYSE: PBA) has successfully completed its consent and proxy solicitation for the 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1. The company received strong support from Series 1 Noteholders, with over 66 2/3% approving the Extraordinary Resolution before the July 22, 2025 deadline.

The approved amendments will enable the exchange of all outstanding Series 1 Notes for an equal principal amount of 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 3, due January 25, 2081. Following this approval, Pembina and Computershare Trust Company will execute a Supplemental Indenture to implement the changes. The previously scheduled noteholders meeting for July 28, 2025, has been cancelled.

Pembina Pipeline Corporation (NYSE: PBA) has declared quarterly dividends for its nine series of preferred shares, with payments scheduled across different dates in August, September, and October 2025. The company will also release its second quarter 2025 results on August 7, 2025, after market close.

Dividend payments range from $0.268875 to $0.425875 per share across the different preferred share series. The company has also scheduled a conference call and webcast for August 8, 2025, at 8:00 a.m. MT to discuss the quarterly results, with replay available until August 15, 2025.

Pembina Pipeline Corporation (NYSE: PBA) has initiated a consent and proxy solicitation process for holders of its 4.80% Fixed-to-Fixed Rate Subordinated Notes, Series 1 due January 25, 2081. The company is seeking approval for amendments to the Series 1 Note Indenture that would introduce an Exchange Right allowing noteholders to exchange their Series 1 Notes for an equal principal amount of new Series 3 Notes.

The proposed amendments require approval from 66 2/3% of Series 1 Noteholders, either through written consent by July 22, 2025, or through voting at a meeting scheduled for July 28, 2025. The new Series 3 Notes will maintain similar economic terms but will not include provisions for preferred shares delivery during bankruptcy events, aligning them with the company's existing Series 2 Notes.

If implemented, an Automatic Exchange provision will require all remaining Series 1 Notes to be exchanged for Series 3 Notes if more than 66 2/3% of noteholders exercise their Exchange Right. Noteholders who don't consent to the amendments may experience capital gains or losses for Canadian tax purposes upon automatic exchange.

["Series 3 Notes will maintain the same economic terms as Series 1 Notes, including interest rates and payment dates", "The exchange will align Series 3 Notes with existing Series 2 Notes in payment rights", "Provides noteholders with flexibility through Exchange Right option"]

Pembina Pipeline Corporation has successfully closed a $200 million offering of 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2, due June 6, 2055. The offering was led by CIBC Capital Markets, BMO Capital Markets, and Scotiabank. The proceeds will be used to redeem outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 19, and for general corporate purposes. Additionally, Pembina plans to initiate a consent solicitation from holders of its $600 million Series 1 Notes to amend the indenture, allowing holders to exchange their notes for new Series 3 Notes with similar economic terms but modified bankruptcy-related provisions to ensure equal ranking with Series 2 Notes.

Pembina Pipeline Corporation has announced a $200 million offering of 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2, due June 6, 2055. The offering is expected to close around June 6, 2025. The company plans to use the proceeds to redeem its outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 19, and for general corporate purposes. The notes are being offered through a syndicate led by CIBC Capital Markets, BMO Capital Markets, and Scotiabank. Additionally, Pembina intends to initiate a consent solicitation from holders of its $600 million Series 1 Notes to amend the indenture, allowing holders to exchange their notes for new Series 3 Notes with similar economic terms but modified bankruptcy-related provisions.

Pembina Pipeline Corporation has announced its plan to redeem all 8,000,000 outstanding Cumulative Redeemable Floating Rate Reset Class A Preferred Shares, Series 19 on June 30, 2025. The redemption price is set at $25.00 per share, bringing the total redemption value to $200 million. Shareholders will receive a final quarterly dividend of $0.292750 per share on June 30, 2025, for shareholders of record as of June 16, 2025. After this final dividend payment, there will be no remaining accrued or unpaid dividends on the Series 19 Shares. The company has notified the registered holder of the redemption details in accordance with the terms outlined in their articles of amalgamation.

Pembina Pipeline Corporation (NYSE: PBA) has announced the renewal of its normal course issuer bid (NCIB) program, approved by the Toronto Stock Exchange. The program allows Pembina to repurchase up to 29,045,408 common shares, representing 5% of its issued and outstanding shares. The buyback period runs from May 16, 2025 to May 15, 2026. Daily purchases will be limited to 807,423 shares, 25% of the six-month average daily trading volume. The company believes its shares may occasionally trade at prices that don't reflect their underlying value, making share repurchases an attractive use of financial resources. Notably, under its previous NCIB program, Pembina did not repurchase any shares.