Pembina Pipeline (PBA)
Connects Western Canadian energy production to processing, storage, pipelines and export markets.
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Transports crude oil, natural gas liquids and natural gas while providing gathering, processing, fractionation, storage, terminal and marketing services. The asset chain is rooted in Western Canada, reaches U.S. markets, and is expanding toward LNG exports through the Cedar project under construction.
Moves crude oil, condensate, natural gas liquids and natural gas through an integrated network of conventional, oil-sands and transmission pipelines. Facilities add gas gathering and processing, fractionation, storage and terminals, while marketing connects those services to customers.
Built from a Western Canadian base, the network also reaches U.S. markets through cross-border assets including Alliance, Aux Sable and Cochin. Decades of adjacent acquisitions have extended the chain from field processing to long-haul transport and export infrastructure.
Pipeline integrity, timely incident escalation, federal and provincial or state permits, and execution on long-cycle projects shape operations. Cedar LNG, developed with the Haisla Nation, remains under construction rather than an operating asset, making delivery of the sanctioned project the next major extension of the network.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 20, 2026 | Scotiabank | Downgrade | ||
| Jul 3, 2026 | BMO Capital | Reiterate | Rating: —Target: $54 | Target: $68 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $108.6M · Total debt $9.80B · Total assets $25.72B · Shareholders' equity $12.11B
- Revenue
- $1.53B
- Operating income
- $571.7M
- Net income
- $363.2M
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 53.91% | 313.23M ADS | |
|---|---|---|---|
| 454 holders · as of Jun 30, 2026 | |||
| Other | 46.09% | 267.83M ADS | |
| remainder | |||
581.07M ADS as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Royal Bank of CanadaInstitution | 7.82% | 45.44M ADS | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 3.72% | 21.61M ADS | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 2.88% | 16.74M ADS | as of Jun 30, 2026 |
Clearbridge Investments, LLCInstitution | 2.29% | 13.32M ADS | as of Jun 30, 2026 |
CIBC World Market Inc.Institution | 2.23% | 12.96M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Enbridge
Overlaps in liquids pipelines, gas transmission and midstream services
- KeyCorp
Overlaps in western Canadian gas processing, NGL logistics and marketing
- TC Energy
Competes for Western Canadian gas transportation and U.S. market access
- Plains All American Pipeline
Overlaps in North American crude transportation, storage and logistics
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Pembina Pipeline | $46.18 | +0.56% | $26.70B | 22.9 | 22.6 | 4.7 | +15.2% |
| Enbridge | $48.18 | +0.57% | $104.60B | 23.4 | 23.2 | 1.6 | +89.7% |
| KeyCorp | $20.47 | −0.07% | $22.11B | 11.9 | 10.5 | 2.1 | +7.3% |
| TC Energy | $60.66 | +1.47% | $62.23B | 25.2 | 24.3 | 5.5 | +40.3% |
| Plains All American Pipeline | $24.74 | +0.75% | $17.32B | 6.8 | 14.6 | 0.3 | +66.3% |
| Median | 17.7 | 18.9 | 1.9 | +53.3% |