Pembina Pipeline Stock Price, News & Analysis

Pembina Pipeline (TSX: PPL; NYSE: PBA) agreed to issue $225 million aggregate principal amount of 5.95% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due June 6, 2055. This is a further issuance to the $200 million Series 2 Notes issued June 6, 2025, bringing total Series 2 Notes to $425 million outstanding.

The Offering is expected to close on or about October 10, 2025, subject to customary conditions. Net proceeds are intended to fund the redemption of Pembina's Series 9 Class A Preferred Shares (TSX: PPL.PR.I) and for general corporate purposes. The notes are being offered through an underwriter syndicate and will not be registered for sale in the United States.

Pembina Pipeline (NYSE: PBA) declared quarterly dividends for preferred share Series 1, 3, 5, 7, 9, 15, 17, 21 and 25 with payment and record dates in Oct–Dec 2025. Key per-share amounts: Series 1 $0.407813, 3 $0.376188, 5 $0.425875, 7 $0.372063, 9 $0.268875, 15 $0.385250, 17 $0.412813, 21 $0.393875, 25 $0.405063.

The company will release Q3 2025 results on Nov 6, 2025 after market close and host a conference call/webcast on Nov 7, 2025 at 8:00 a.m. MT (10:00 a.m. ET); replay available until Nov 14, 2025 and audio archive posted for a minimum of 90 days.

Pembina Pipeline Corporation (NYSE: PBA, TSX: PPL) announced on October 8, 2025 that it is considering an offering of subordinated notes under its short form base shelf prospectus dated December 13, 2023.

The company said that, if a successful offering is completed, it intends to use net proceeds to redeem its outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 (TSX: PPL.PR.I) and for general corporate purposes. Pembina cautioned there is no certainty the offering will be completed or as to terms or timing. The subordinated notes would not be registered for sale in the United States and may not be offered to U.S. persons.

Pembina (NYSE: PBA) and Kineticor provided an update on the proposed Greenlight Electricity Centre, a multi‑phased gas‑fired combined cycle facility in Sturgeon County, Alberta, with up to ~1,800 MW capacity. Phase 1 ~900 MW would raise natural gas demand by ~160 mmcf/d (potentially ~320 mmcf/d at 1,800 MW). Greenlight secured a 907 MW AESO allocation assigned to a customer and a 907 MW demand transmission agreement enabling connection as early as 2027. A conditional land sale (~$190 million net to Pembina) is expected to close in Q4 2025. Turbine reservation and progress toward an FID in H1 2026 support a possible start‑up by 2030.

Pembina Pipeline (NYSE: PBA) has received approval from the Canada Energy Regulator (CER) for a negotiated settlement regarding the Canadian portion of the Alliance Pipeline. The settlement, reached between Alliance Pipeline Limited Partnership and its shippers, establishes a tolling structure that will remain in effect for the next 10 years.

The agreement represents a significant regulatory milestone for Pembina's Alliance Pipeline, which serves as a crucial North American energy infrastructure asset. CEO Scott Burrows emphasized the company's commitment to maintaining exceptional customer service and maximizing the pipeline's value.

Pembina Pipeline (NYSE:PBA) reported Q2 2025 results with earnings of $417 million, adjusted EBITDA of $1.013 billion, and adjusted cash flow from operating activities of $698 million ($1.20 per share).

The company updated its 2025 adjusted EBITDA guidance to $4.225-$4.425 billion and revised its capital investment program to $1.3 billion. Key developments include securing 50,000 bpd of propane export capacity through a new $145 million Prince Rupert Terminal optimization and AltaGas agreement, PGI's acquisition of remaining Duvernay Complex interest for $55 million, and advancement of $1 billion in pipeline expansions.

Notable achievements include the start of Cedar LNG vessel construction and RFS IV trending 5% under budget at $500 million. The company expects Q3 results similar to Q2, with stronger performance anticipated in Q4.

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.

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.