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Last C$35.59 CAD
Change Today -0.01 / -0.03%
Volume 1.4M
As of 4:40 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

pembina pipeline corp (PPL) Snapshot

Open
C$35.27
Previous Close
C$35.60
Day High
C$36.10
Day Low
C$35.21
52 Week High
09/3/14 - C$53.04
52 Week Low
08/24/15 - C$30.54
Market Cap
12.1B
Average Volume 10 Days
1.4M
EPS TTM
C$0.77
Shares Outstanding
340.4M
EX-Date
08/21/15
P/E TM
46.0x
Dividend
C$1.83
Dividend Yield
4.97%
Current Stock Chart for PEMBINA PIPELINE CORP (PPL)

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pembina pipeline corp (PPL) Details

Pembina Pipeline Corporation provides transportation and midstream services for the energy industry in North America. It operates through four businesses: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services, and Midstream. The Conventional Pipelines business operates 8,800 kilometers of pipeline network that transports hydrocarbon products and extends across Alberta and parts of British Columbia. It also transports ethane from North Dakota and Saskatchewan to Empress, Alberta. The Oil Sands & Heavy Oil business transports crude oil for the Syncrude Project and the Horizon Project to delivery points near Edmonton, Alberta; owns and operates the Nipisi and Mitsue pipelines, which provide transportation for producers operating in the Pelican Lake and Peace River heavy oil regions of Alberta; and the Cheecham Lateral, which transports synthetic crude to oil sands producers operating southeast of Fort McMurray, Alberta. This segment operates approximately 1,650 kilometers of pipeline and has 880 thousands of barrels per day (mbpd) of capacity. The Gas Services business gathers and process natural gas. It operates 7 gas plants, 12 compressor stations, and approximately 375 kilometers of gathering systems. The Midstream business offers midstream products and services, including terminalling, storage, and hub. It operates 17 truck terminals; 21 inbound and 13 outbound pipeline connections; 1.2 mmbpd of crude oil and condensate supply; and 310 mbbls of surface storage in and around the Edmonton and Fort Saskatchewan, Alberta areas, as well as operates 2 NGL operating systems. Pembina Pipeline Corporation was founded in 1997 and is headquartered in Calgary, Canada.

1,111 Employees
Last Reported Date: 02/26/15
Founded in 1997

pembina pipeline corp (PPL) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$570.0K
Senior Vice President of NGL & Natural Gas Fa...
Total Annual Compensation: C$373.3K
Senior Vice President of Pipeline & Crude Oil...
Total Annual Compensation: C$373.3K
Vice President of Business Development and Vi...
Total Annual Compensation: C$328.3K
Compensation as of Fiscal Year 2014.

pembina pipeline corp (PPL) Key Developments

Pembina Pipeline Corporation Announces Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015

Pembina Pipeline Corporation announced unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s revenue in the second quarter of 2015 was CAD 1.213 billion compared to CAD 1.606 billion for the second quarter of 2014. Net revenue (revenue less cost of goods sold including product purchases) was CAD 351 million for the second quarter of 2015, compared to CAD 360 million for the same period in 2014. The company generated EBITDA of CAD 226 million for the second quarter, compared to CAD 235 million for the respective periods of 2014. Cash flow from operating activities for the second quarter of 2015 was CAD 209 million or CAD 0.62 per common share – basic and diluted compared to CAD 155 million or CAD 0.48 per common share – basic and diluted during the second quarter of 2014. Decreased interest paid and increased change in non-cash working capital in the 2015 period compared to the respective period in 2014 were offset by higher taxes paid and decreased operating margin. Adjusted cash flow from operating activities for the second quarter of 2015 was CAD 176 million or CAD 0.51 per common share – basic compared to CAD 191 million or CAD 0.59 per common share – basic during the second quarter of 2014. Capital expenditures were CAD 387 million against CAD 298 million a year ago. The company's earnings attributable to shareholders were CAD 43 million or CAD 0.09 per common basic and diluted share during the second quarter of 2015 compared to CAD 77 million or CAD 0.21 per common basic and diluted share in the same period of 2014. Higher gross profit in the Conventional Pipelines and Gas Services businesses and lower net finance costs were more than offset by lower gross profit in the Midstream business, and increased deferred tax expense. Results from operating activities were CAD 165 million against CAD 178 million a year ago. Earnings before income tax and equity accounted investees were CAD 139 million against CAD 130 million a year ago. For the six months, the company’s year-to-date revenue was CAD 2.367 billion for 2015 compared to CAD 3.365 billion for the same period in 2014. Net revenue (revenue less cost of goods sold including product purchases) was CAD 726 million year-to-date in 2015 as compared to CAD 807 million for the same period in 2014. The company's conventional pipelines and gas services businesses had increases in revenue of 25% and 26% in the second quarter (28% and 27% year-to-date), respectively, over the same periods in 2014. This strong performance, combined with steady results in the Company's Oil Sands and Heavy Oil business, helped to offset decreased performance in the Company's Midstream business. The decreased performance in the Midstream business was due to lower commodity prices, with the great impact from propane, where the average year-to-date market price in 2015 declined by almost 60% compared to the same period in 2014, which overall resulted in lower consolidated revenue for the second quarter and first half of 2015 compared to the same periods in 2014. The company generated EBITDA of CAD 466 million for the first half of 2015, compared to CAD 551 million for the respective periods of 2014. The decreases were predominantly due to lower operating margin combined with higher general and administrative expenses in the first half of 2015. For the six months ended June 30, 2015, cash flow from operating activities was CAD 329 million or CAD 0.97 per common share – basic and diluted compared to CAD 416 million or CAD 1.30 per common share - basic and diluted during the same period last year, largely as a result of decreased operating margin and increased taxes paid in 2015, offset by a decreased change in non-cash working capital. For the six months ended June 30, 2015, adjusted cash flow from operating activities was CAD 389 million or CAD 1.14 per common share - basic compared to CAD 455 million or CAD 1.42 per common share - basic during the same period last year. The decreases for the three and six month periods were primarily due to lower operating margin, increased tax expenses and preferred share dividends. Capital expenditures were CAD 885 million against CAD 585 million a year ago. Earnings attributable to shareholders were CAD 163 million or CAD 0.41 per common basic and diluted share during the first half of 2015 compared to CAD 224 million or CAD 0.65 per common basic and diluted share during the same period of the prior year. The year-to-date decrease was due to the same factors. On a year-to-date basis, earnings attributable to common shareholders net of dividends attributable to preferred shareholders are CAD 139 million compared to CAD 209 million for the same period a year ago. Results from operating activities were CAD 345 million against CAD 442 million a year ago. Earnings before income tax and equity accounted investees were CAD 306 million against CAD 333 million a year ago. For the quarter, the company announced conventional pipelines revenue average volumes of 603 mbpd compared to 573 mbpd for the same period a year ago. Gas Services average processing volume was 108 mboe/d compared to 87 mboe/d for the same period a year ago. NGL sales volume was 104 mbpd compared to 105 mbpd for the same period a year ago. Total volume was 1,695 mbpd compared to 1,645 mbpd for the same period a year ago. For the nine months, the company announced conventional pipelines revenue average volumes of 618 mbpd compared to 563 mbpd for the same period a year ago. Gas Services average processing volume was 111 mboe/d compared to 88 mboe/d for the same period a year ago. NGL sales volume was 117 mbpd compared to 119 mbpd for the same period a year ago. Total volume was 1,726 mbpd compared to 1,650 mbpd for the same period a year ago.

Pembina Pipeline Corporation Declares Dividend for August 2015, Payable on September 15, 2015

Pembina Pipeline Corporation announced that its Board of Directors declared a common share cash dividend for August 2015 of CAD 0.1525 per share to be paid, subject to applicable law, on September 15, 2015 to shareholders of record on August 25, 2015.

Pembina Pipeline Corporation Mulls Acquisitions

Pembina Pipeline Corporation (TSX:PPL) is seeking acquisitions. Mick Dilger, President and Chief Executive Officer of Pembina Pipeline Corporation, said, “Yes, I think it depends what you define as major acquisition. But I think for us, right now, we still feel like, in this environment, we have the financial flexibility to fund the capital program, as well as look at potential acquisition opportunities.”

 

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Industry Analysis

PPL

Industry Average

Valuation PPL Industry Range
Price/Earnings 40.7x
Price/Sales 2.3x
Price/Book 2.1x
Price/Cash Flow 35.6x
TEV/Sales 1.3x
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