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Highlights

  • Pembina Pipeline Corporation (TSX: PPL) has been serving the North American and Canadian markets as a dynamic energy transportation and midstream provider.
  • PPL has entered into an agreement with the Haisla Nation for developing the proposed Cedar LNG project.
  • Pembina Pipeline Corporation has marked a 6.8% growth in the dividend from CAD 0.01833 per share per month to CAD 0.01958 per share per month, effective October 2022.

Pembina Pipeline Corporation (TSX: PPL) has been serving the North American and Canadian markets as a dynamic energy transportation and midstream provider. The firm owns pipelines that are used for transporting natural gas products and hydrocarbon liquids. Its assets also include gas gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business.

PPL has entered into an agreement with the Haisla Nation for developing the proposed Cedar LNG project that involves setting up of an LNG facility with three million tonne every year.

The company’s ratio of proportionately consolidated debt-to-adjusted EBITDA increased 3.5 times in June 2023. For the whole year 2023, the ratio is likely to grow by 3.4 to 3.6 times. PPL paid up around CAD 450 million of proportionately consolidated debt during the quarter.

PPL’s dividend growth

Pembina Pipeline Corporation has marked a 6.8% growth in the dividend from CAD 0.01833 per share per month to CAD 0.01958 per share per month, effective October 2022.

For the third quarter of the year, PPL has announced a common share cash dividend of CAD 0.6675 per share, to be paid in September 2023. Also, the company posted a dividend yield of 6.46%, at the last closing price of CAD 41.88 as on 9 August 2023.

 

Top 10 Shareholders
Approximately 24.83% of the total shareholding of the firm are held by its top ten shareholders. While the Vanguard Group, Inc. owns a maximum stake of about ­­­3.63%, RBC Dominion Securities, Inc.  holds around 3.62% shareholding in the company.

Stock Price Performance
The stock price of the company has jumped by about 4.07% over the last one month, while it has dropped by around 3.45% in the last three months. The stock’s 52-week high and low prices are CAD 49.62 and CAD 39.70, respectively.

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is August 09, 2023. The reference data in this report has been partly sourced from EODHD/Others.