Welcome to our dedicated page for PEMBINA PIPELINE CORPORATION news (Ticker: PBA), a resource for investors and traders seeking the latest updates and insights on PEMBINA PIPELINE CORPORATION stock.
Pembina Pipeline Corporation (symbol: PBA) is a leading transportation and midstream service provider that has been a stalwart player in North America's energy sector for over 60 years. Based in Calgary, Alberta, Pembina owns and operates pipelines that transport a variety of hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil, oil sands products, condensate (diluent), and natural gas liquids produced in Western Canada.
Pembina's extensive asset base does not just comprise pipelines; it also includes gas gathering and processing facilities, and an oil and natural gas liquids infrastructure and logistics business. With strategically located facilities in Western Canada and significant markets in Eastern Canada and the U.S., Pembina offers an integrated suite of midstream and marketing services across the hydrocarbon value chain.
Recent Achievements: Pembina recently expanded its asset portfolio by acquiring a 50% interest in the Alliance Pipeline and a 42.7% interest in Aux Sable from Enbridge Inc. for $3.1 billion. This acquisition is a milestone that strengthens Pembina's position in the market and aligns with its strategic growth plans.
In addition to its physical assets, Pembina boasts a team of experienced professionals dedicated to creating investor value through operational excellence and strategic partnerships. Pembina's integrated assets and commercial operations enable the company to offer essential services to the energy sector, making it a crucial player in North America's energy infrastructure.
Pembina's financial condition remains robust, supported by diverse revenue streams and efficient operations. The company is well-positioned to meet the evolving needs of the energy market, driven by a commitment to reliability and sustainability.
For more detailed and the latest updates, you can always check the latest news and press releases directly on Pembina’s official website or through financial news platforms.
Pembina Pipeline has announced its 2025 financial guidance, projecting adjusted EBITDA of $4.2 billion to $4.5 billion. The company plans a $1.1 billion capital investment program for 2025, focusing on ongoing construction projects and development spending. The guidance reflects positive impacts from volume growth across Western Canadian Sedimentary Basin, new assets, and full-year impact of Alliance and Aux Sable assets consolidation, partially offset by Cochin Pipeline recontracting impacts.
Key priorities for 2025 include safe operations, project execution, progressing Cedar LNG Project, evaluating options for Dow Supply Agreement, and developing pipeline expansions. The company expects to generate positive free cash flow and maintain a year-end debt-to-adjusted EBITDA ratio of 3.4 to 3.7 times.
Pembina Pipeline has announced its plan to redeem all 1,028,130 outstanding Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 22 on January 8, 2025. The redemption price will be $25.50 per share, plus all accrued and unpaid dividends, totaling approximately $26 million. The company has notified the sole registered holder of the Series 22 Shares about the redemption details. Non-registered holders should contact their brokers regarding the redemption process.
Pembina Pipeline announced that none of its Series 7 Preferred Shares will be converted into Series 8 Preferred Shares on December 1, 2024. The decision comes after receiving conversion notices from shareholders by the November 18, 2024 deadline, where less than the required minimum of 1,000,000 Series 7 Shares were tendered for conversion into Series 8 Shares.
Pembina Pipeline has completed the previously announced redemption of its $150 million Series 19 medium-term notes, originally due June 22, 2026. The redemption occurred on November 17, 2024, at a price of approximately $1,023.19 per $1,000 principal amount, which includes accrued but unpaid interest. The company funded this redemption through a combination of cash on hand and its credit facility. The Series 19 Notes were initially issued under pricing supplement no. 5 dated June 20, 2023.
Pembina Pipeline (TSX: PPL; NYSE: PBA) has announced its intention to redeem all outstanding Series 19 Medium Term Notes, totaling $150 million, on November 17, 2024. The redemption price will be approximately $1,023.19 per $1,000 principal amount, including accrued but unpaid interest. The company plans to fund this redemption through a combination of cash on hand and credit facility. The Series 19 Notes were originally set to mature on June 22, 2026.
Pembina Pipeline reported Q3 2024 earnings of $385 million, with adjusted EBITDA of $1,019 million and quarterly adjusted cash flow from operating activities of $724 million. The company narrowed its 2024 adjusted EBITDA guidance to $4.225-$4.325 billion from the previous $4.2-$4.35 billion. Key developments include Pembina's acquisition of a 14.6% interest in Aux Sable's U.S. operations and PGI's $420 million transaction with Whitecap Resources. The company maintains a strong balance sheet with a debt-to-adjusted EBITDA ratio of 3.6x.
Pembina Pipeline announced it will not redeem its Series 7 Preferred Shares on December 1, 2024. Shareholders can convert their Series 7 Shares to Series 8 Shares during November 1-18, 2024. The annual dividend rate for Series 7 Shares will be 5.953% from December 1, 2024, to December 1, 2029. For Series 8 Shares, the initial floating rate will be 6.583% for the period ending March 1, 2025. The upcoming dividend payment of $0.273750 per Series 7 Share will be paid on December 2, 2024, to shareholders of record on November 1, 2024.
Pembina Pipeline (TSX: PPL; NYSE: PBA) has declared quarterly dividends for its preferred shares, Series 1, 3, 5, 7, 9, 15, 17, 19, 21, 22, and 25. The dividends are payable on various dates in November and December 2024, with corresponding record dates in October, November, and December 2024.
The company also announced its Third Quarter 2024 Results Conference Call and Webcast, scheduled for November 6, 2024, at 8:00 a.m. MT. Pembina will release its Q3 2024 results on November 5, 2024, after markets close. The conference call dial-in numbers and webcast details were provided for interested parties to participate or access the replay.
Pembina Pipeline (TSX: PPL; NYSE: PBA) announced that Pembina Gas Infrastructure Inc. (PGI), jointly owned by Pembina and KKR, has entered into agreements with Veren Inc. to acquire Veren's Gold Creek and Karr area oil batteries for $400 million ($240 million, net to Pembina). The transaction includes:
1. Acquisition of four batteries with 320 million cubic feet per day of natural gas handling capacity and 53,000 barrels per day of liquids handling capacity.
2. Veren retaining operatorship of acquired assets and assuming operatorship of existing PGI-owned batteries.
3. PGI funding up to $300 million for Veren's future infrastructure.
4. A 15-year take-or-pay agreement and area-of-dedication for gathering and processing services.
The deal is expected to generate initial annual adjusted EBITDA of approximately $50 million ($30 million, net to Pembina) and close in Q4 2024.
Pembina Pipeline (TSX: PPL; NYSE: PBA) announced record financial results for Q2 2024, with earnings of $479 million and adjusted EBITDA of $1,091 million.
The company closed a $3.1 billion acquisition of additional interests in Alliance and Aux Sable and made a final investment decision on the US$4 billion Cedar LNG Project. Pembina also acquired the remaining 14.6% interest in Aux Sable's U.S. operations.
Phase VIII Peace Pipeline Expansion was completed under budget. 2024 guidance has been raised with adjusted EBITDA now projected between $4.20 billion and $4.35 billion.
The board declared a quarterly dividend of $0.69 per share payable on September 27, 2024.
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