Barclays raises Pembina Pipeline stock price target on pipeline outlook

Alberta's Pacific Link pipeline, designated as a national interest project, aims to transport 1M barrels/day to Asia. The $35.2B-$43.7B project, set for completion by 2032-33, is jointly owned by the federal government, Alberta, and Pembina Pipeline (PPL). Indigenous communities are offered a 10% stake. Local leaders express cautious optimism about jobs and economic benefits, while environmental concerns remain.

Canada is expediting a 1M bpd oil pipeline from Alberta to the Pacific, led by Trans Mountain Corp. and Pembina Pipeline. The project, estimated to cost C$35.2B-C$43.7B, aims to reduce dependence on the U.S. market and could generate C$20B in annual GDP. It requires regulatory approvals and Indigenous consultations.

PBA Infrastructure Ltd. reported a standalone net loss of ₹118.1 crore for Q1FY27 ended June 30, 2026, versus a ₹34.9 crore loss a year earlier. Revenue from operations fell 95% year-on-year to ₹39.1 crore from ₹717.5 crore. EPS was -₹0.87. Auditors cited going-concern risks, including lender repayment defaults and SARFAESI notices.

Pembina Pipeline (TSX:PPL, NYSE:PBA) said it is proceeding with its Heartland Extraction Plant (HEP) and amended its ethane supply agreement with Dow. HEP is a 750 MMcf/d straddle plant costing about $570M, targeting late 2029 service. It will supply Dow with 22,500 bpd ethane, scaling to 22,500 bpd by end-2030, and support up to 9,500 bpd propane-plus NGL. EBITDA build multiple is expected at 5-7x.

Pembina Pipeline (PBA) discussed Q2 results on an earnings call, citing added Redwater propane-plus fractionation capacity and improved Dawson-area asset performance. Marketing results were supported by wider NGL fractionation spreads, higher NGL and crude prices, and higher volumes. Management kept annual outlook but expects Q3 adjusted EBITDA below Q2 due to seasonality; hedged ~90% of NGL spread exposure for Q3. Projects include Heartland extraction, Greenlight power for a Meta data center, a

Pembina Pipeline Corp. reported Q2 FY2026 adjusted EBITDA of CAD 1.064 billion (+5% YoY) and net earnings of CAD 512 million (+23%). Adjusted earnings rose to CAD 415 million (+10%). Volumes averaged 3.7 MMboe/d (+3%). Management reaffirmed 2026 adjusted EBITDA guidance of CAD 4.35–4.55 billion and discussed projects including Cedar LNG and Greenlight Electricity Center.