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Pembina Pipeline Corp PBA Stock Quote

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Morningstar‘s Stock Analysis PBA

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Pembina Boosts 2022 Guidance Modestly on Higher Marketing Profits in Q3

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Pembina’s third-quarter results were solid. The company boosted its 2022 EBITDA guidance midpoint by CAD 50 million to close to CAD 3.7 billion, thanks to higher expected contributions from marketing profits. The contributions were mainly from wider oil and gas spreads. That said, with the collapse in natural gas liquids prices recently, we expect some near-term softness from the marketing side, so we've trimmed our 2023 outlook. After updating our model, we will maintain our CAD 37 and USD 27 per share fair value estimates and no-moat rating.

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Key Statistics PBA

Company Profile PBA

Business Description

Pembina Pipeline is a midstream company serving the Canadian and North American (primarily Bakken) markets with an integrated product portfolio. The firms' assets include pipelines and gas gathering as well as assets across fractionation, storage, and propane exports.

585 - 8th Avenue S.W., Suite 4000
Calgary, AB, T2P 1G1, Canada
T +1 403 231-7500
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 2,349