Earnings
June 5, 2020 - AI
New! Atrium Mortgage Investment Corp. Q1-2020 Earnings, Price Target Update .....
June 4, 2020 - MIC
Genworth MI Canada Inc. Q1-2020 Earnings, Price Target Update .....
June 3, 2020 - FC
Firm Capital Mortgage Investment Corp. Q1-2020 Earnings, Price Target Updat .....
May 31, 2020 - TD
TD Bank - Q2-2020 Fiscal Earnings & Price Target Update .....
May 30, 2020 - CM
CIBC - Q2-2020 Earnings & Price Target Forecast .....
May 28, 2020 - BMO
Bank of Montreal - Q2-2020 Earnings, Fiscal 2020 Forecast .....
May 28, 2020 - NA
National Bank of Canada - Q2-2020 Earnings, Price Target Update .....
May 28, 2020 - BNS
Bank of Nova Scotia, Q2-2020 Earnings & Price Target Update .....
Recommendation Changes
CPX, H, QBR.B, AW.UN, SU, more...

Pembina Pipeline Corp. Q1-2020 Earnings & Price Target Update

This is only a sample of the article, please login to view the entire article

Pembina Pipeline Corp. (PPL-TSX, PPL.PF.A, PPL.PR.A,E,G, I, K, M, O, Q, S) owns or has interests in conventional crude oil, condensate, natural gas and natural gas liquids pipelines, oil sands and heavy oil pipelines, gas gathering and processing facilities, NGL infrastructure and logistics, and midstream services. Pembina transports approximately 50% of Alberta's conventional crude oil, and natural gas liquids produced in western Canada; oil sands, heavy oil and diluent pipelines; gas gathering and processing facilities. Pembina provides 30% of the natural gas liquids produced in western Canada, and five oil sands pipelines provide 30% of take away capacity from the Athabasca oil sands region. The pipelines transport conventional and synthetic crude oil and natural liquids. Operations are primarily located in Western Canada. The Pipelines Segment contributes 56% of operating profits, Facilities – 28% and Marketing – 14%. Total assets as of Mar-31-2020 were $34.1B compared to $15B at Dec-31-2016. The growth resulted from the acquisition of Veresen Inc. in Oct-2017 adding $9B, and Kinder Morgan for $4.4B with the balance from ongoing capital development projects. The acquisition of Kinder Morgan Canada(KML-TSX) and the US portion of the Cochin Pipeline from Kinder Morgan Inc.(KMI-NYSE) on Dec-19-2019 adding $4.4B in assets in Q4-2019. During 2019, $600M of projects was placed into service, including Duvernay II, Burstall Ethane Storage as well as other infrastructure at the Redwater Complex. For 2020, $1.6B of additional fee based projects is expected to enter service, and $1.3B for 2021. An additional $8B is in the planning and approval phases.

The longer term strategy is to build infrastructure to connect western Canada petroleum products to global markets to benefit from higher prices. This included a facility located in Alberta to convert propane in polypropylene for plastics, a Prince Rupert LPG Export Terminal, currently under construction, and the Jordan Cove LNG project on the coast of Oregon budgeted at $6.5B. The Alberta polypropylene project is on hold until at least the after the COVID crisis eases. The Jordan Cove project has received US Federal approval, state and regional approvals are progressing.

Capital Spending

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
June 5, 2020
New! Coverage Universe - Weekly Price Change: May 29 - June 5, 2020
May 29, 2020
Coverage Universe - Weekly Price Change: May 22-29, 2020
May 22, 2020
Coverage Universe - Weekly Price Change: May 15-22, 2020
May 15, 2020
Coverage Universe - Weekly Price Change: May 8-15, 2020
May 8, 2020
Coverage Universe - Weekly Price Change: May 1-8, 2020
May 1, 2020
Coverage Universe - Weekly Price Change: Apr 24-May 1, 2020
April 24, 2020
Coverage Universe - Weekly Price Change: Apr 17-24, 2020
April 17, 2020
Coverage Universe - Weekly Price Change: Apr 10-17, 2020