Pembina Pipeline - PBA STOCK NEWS

Pembina Pipeline (TSX: PPL; NYSE: PBA) has announced the filing of its 2024 year-end disclosure documents. The company has submitted its audited consolidated financial statements, management's discussion and analysis, and annual information form for the year ended December 31, 2024, with Canadian securities regulatory authorities. Additionally, Pembina has filed its Form 40-F with the U.S. Securities and Exchange Commission.

These documents are accessible through various platforms including SEDARPlus, SEC website, and Pembina's investor relations section. Shareholders can request printed copies of the audited consolidated financial statements and related management's discussion free of charge through investor relations.

Pembina Pipeline (NYSE: PBA) has acquired a 50% stake in Greenlight Electricity Centre Partnership, partnering with Kineticor Holdings LP #3. The joint venture is developing the Greenlight Electricity Centre (GLEC), a proposed multi-phased gas-fired power facility with up to 1,800 MW capacity and carbon capture capabilities, alongside an 1,800 MW data centre complex in Alberta's Industrial Heartland.

The project, managed by Kineticor, will be developed in 450 MW modular phases to match market demand. Currently in Stage 3 of the AESO interconnection process, GLEC targets grid interconnection by early 2027. The facility can either supply power to co-located data centres or feed directly into Alberta's power grid.

This development aligns with Alberta's goal to attract $100 billion in data centre investments by 2030. The strategic location offers access to transmission lines, utility infrastructure, carbon sequestration, and fiber connectivity.

Pembina Pipeline (TSX: PPL; NYSE: PBA) reported record financial results for Q4 and full-year 2024. The company achieved record full-year earnings of $1,874 million, with record adjusted EBITDA of $4,408 million and adjusted cash flow from operating activities of $3,265 million ($5.70 per share).

Q4 highlights include earnings of $572 million, record quarterly adjusted EBITDA of $1,254 million, and record quarterly adjusted cash flow from operating activities of $922 million ($1.59 per share). Notable developments include PGI's asset acquisitions worth up to $700 million, successful completion of the NEBC MPS Expansion, and additional 25,000 bbl/d capacity contract on the Nipisi Pipeline.

The board declared a Q1 2025 dividend of $0.69 per share, payable March 31, 2025. The company's 2024 performance exceeded guidance, driven by stronger NGL margins, lower expenses, and improved pipeline and facilities operations.

Pembina Pipeline (TSX: PPL; NYSE: PBA) has announced quarterly dividend declarations for its preferred shares Series 1, 3, 5, 7, 9, 15, 17, 19, 21, and 25. The dividends range from $0.268875 to $0.425875 per share, with various payment dates in February and March 2025.

The company will release its fourth quarter 2024 results on Thursday, February 27, 2025, after markets close. A conference call and webcast are scheduled for Friday, February 28, 2025, at 8:00 a.m. MT. The conference call will be available for replay until March 7, 2025, and a webcast archive will be accessible on Pembina's website for at least 90 days.

Pembina Pipeline (TSX: PPL; NYSE: PBA) announces the closing of PGI's acquisition of a 50% working interest in Whitecap Resources' Kaybob Complex, effective December 31, 2024. The deal includes long-term take-or-pay agreements and area-of-dedication commitments for Whitecap's volumes.

Based on Whitecap's drilling results, PGI expects full capacity utilization at the Kaybob Complex and has accelerated K3 facility developments to Q3 2025, one year ahead of schedule. PGI will invest up to $400 million ($240 million net to Pembina) in the Lator Infrastructure project, expected to start in late 2026/early 2027.

Additionally, PGI has increased its funding commitment for Veren's Gold Creek and Karr areas infrastructure to approximately $200 million ($120 million net to Pembina), supported by long-term take-or-pay commitments. These developments will support higher utilization of Pembina's Peace Pipeline and Redwater Complex, including the RFS IV expansion.

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.