Pembina Pipeline Announces 2026 Financial Guidance with Adjusted EBITDA of $4.125 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2025
0mins
Source: Newsfilter
- Financial Guidance Upgrade: Pembina expects adjusted EBITDA for 2026 to be between $4.125 billion and $4.425 billion, reflecting approximately a 4% increase over 2025, which enhances investor confidence in the company's robust growth in fee-based business.
- Capital Investment Plan: The 2026 capital investment program is projected at approximately $1.6 billion, ensuring the company remains self-funded over the next three years, further solidifying its market position in energy infrastructure.
- Cedar LNG Agreement Signed: Pembina has signed a 12-year agreement with Ovintiv for a processing capacity of 0.5 million tonnes per annum, marking a strategic expansion into the global LNG market and expected to provide a stable long-term revenue stream.
- Pipeline System Expansion: Pembina has approved a $200 million expansion of the Peace Pipeline System, which is expected to enhance propane delivery capacity in Alberta, addressing growing customer demand and strengthening the company's competitive edge.
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Analyst Views on PBA
Wall Street analysts forecast PBA stock price to fall
9 Analyst Rating
7 Buy
1 Hold
1 Sell
Moderate Buy
Current: 42.660
Low
35.99
Averages
42.31
High
47.51
Current: 42.660
Low
35.99
Averages
42.31
High
47.51
About PBA
Pembina Pipeline Corporation is an energy transportation and midstream service provider. The Company owns a network of strategically located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. It operates through three divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. The Pipelines Division provides customers with pipeline transportation, terminalling, and storage in key market hubs in Canada and the United States for crude oil, condensate, natural gas liquids and natural gas. The Facilities Division includes infrastructure that provides Pembina's customers with natural gas, condensate and NGL services. The Marketing & New Ventures Division undertakes value-added commodity marketing activities, including buying and selling products, commodity arbitrage, and optimizing storage opportunities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Apollo Acquires 40% Stake in Pembina Gas Infrastructure
- Acquisition Overview: Apollo (APO) announced its agreement to acquire a 40% stake in Pembina Gas Infrastructure, enhancing its market position in one of Western Canada's largest independent gas processing platforms, although financial terms remain undisclosed.
- Governance Stability: Pembina Pipeline (PBA) will retain its 60% stake, and the existing governance structure will remain unchanged, indicating that Apollo's entry will not disrupt PGI's operational management, ensuring business continuity.
- Robust Operational Capacity: PGI operates 23 gas processing plants with approximately 3,900 km of gathering pipelines and a daily extraction capacity of 330,000 barrels of natural gas liquids, strategically positioned to serve customers across the Montney and Duvernay trends.
- Strategic Partnership Outlook: Pembina Pipeline CEO Scott Burrow emphasized that PGI is a cornerstone of its integrated midstream platform, and Apollo's partnership will further solidify PGI's critical role in Western Canadian energy infrastructure, driving future strategic developments.
See More
Pembina Pipeline Sets Growth Trajectory Through 2030
- Growth Expectations: Pembina Pipeline anticipates a 5%-7% compound annual fee-based adjusted EBITDA per share growth through 2030, driven by higher utilization of existing assets and contributions from new projects, thereby enhancing investor confidence in the company's future.
- Infrastructure Expansion: The company plans to expand its pipelines and gas-processing facilities to handle increased volumes in key producing regions while improving routes that transport oil and gas to higher-value markets, further enhancing its competitive position.
- Hedging Strategy: Currently, approximately 65% of its 2026 frac spread exposure is hedged, with about 40% hedged in Q1 and Q4, and 90% in Q2 and Q3, which helps mitigate the impact of market volatility on the company's financials through effective risk management.
- Industry Comparison: Pembina's growth guidance represents a ~100 basis point increase from its previous 2024-26 target, indicating better alignment with Canadian pipeline peers, reflecting improved returns on existing assets as utilization increases and contributions from projects under construction.
See More
Pembina Pipeline's Commitment to 2030 Growth
- Clear Growth Targets: Pembina Pipeline has committed to achieving a 5-7% compound annual growth rate in fee-based adjusted EBITDA per share by 2030, underpinned by higher utilization of existing assets and contributions from sanctioned projects, reflecting the company's confidence in stable growth.
- Project-Driven Development: The company plans to extend its franchise through a portfolio of development opportunities, ensuring sustained growth in the coming years, particularly with investments in LNG, LPG, and emissions reduction infrastructure.
- Robust Strategic Execution: Pembina emphasizes disciplined strategy execution and maintaining strong financial guardrails aimed at creating long-term value for shareholders, indicating the company's resilience in the face of market fluctuations.
- Stable Market Performance: As of the last close, Pembina Pipeline shares traded at C$61.80, down 0.43%, reflecting a cautiously optimistic market sentiment regarding its growth prospects.
See More
Pembina Announces Quarterly Preferred Share Dividends
- Dividend Declaration: Pembina Pipeline Corporation's Board of Directors has declared dividends for preferred shares Series 1, 3, 5, 7, and 21 payable on June 1, 2026, indicating the company's ongoing commitment to shareholder returns.
- Dividend Amounts: The dividends for preferred shares are set at CAD 0.407813 for Series 1, CAD 0.376188 for Series 3, CAD 0.425875 for Series 5, CAD 0.372063 for Series 7, and CAD 0.393875 for Series 21, reflecting the company's stable cash flow and profitability.
- Payment Schedule: Dividends for Series 15 and 17 will be paid on June 30, 2026, while Series 25 dividends are scheduled for May 15, 2026, ensuring consistent cash inflows for shareholders across different periods.
- Business Update Webcast: Pembina will hold a webcast on April 7, 2026, to provide a business update, enhancing communication with investors and demonstrating the company's transparency and confidence in future developments.
See More
Pembina Pipeline Corporation Files 2025 Annual Financial Statements
- Financial Report Submission: Pembina Pipeline Corporation has filed its audited consolidated financial statements for the year ended December 31, 2025, with Canadian securities regulators, ensuring transparency and compliance.
- U.S. Securities Filing: The company also submitted its Form 40-F for the year ended December 31, 2025, to the U.S. Securities and Exchange Commission, further enhancing its compliance and investor trust in the North American market.
- Investor Information Access: Shareholders can request printed copies of the audited financial statements and related management discussions free of charge by contacting Investor Relations, demonstrating the company's commitment to shareholder rights.
- Company Background: Pembina Pipeline Corporation has served the North American energy industry for over 70 years, owning a vast network of strategically located assets and focusing on providing safe and reliable energy solutions that support sustainable development.
See More
Pembina Pipeline Declares Quarterly Dividend
- Dividend Declaration: Pembina Pipeline has declared a quarterly dividend of $0.71 per share, consistent with previous distributions, indicating the company's stable cash flow and profitability, which enhances investor confidence.
- Yield Overview: The forward yield of 6.45% is attractive in the current market environment, potentially drawing in income-seeking investors and further boosting the stock's appeal.
- Payment Schedule: The dividend will be payable on March 31, with a record date of March 16 and an ex-dividend date also on March 16, ensuring shareholders receive their earnings promptly and reinforcing their willingness to hold shares.
- Dividend Growth Insights: The ongoing dividend payments, as reflected in PBA's Dividend Scorecard and Yield Chart, demonstrate the company's commitment to shareholders while laying the groundwork for future dividend growth, showcasing a robust strategy in capital management.
See More
Apollo Acquires 40% Stake in Pembina Gas Infrastructure
- Acquisition Overview: Apollo (APO) announced its agreement to acquire a 40% stake in Pembina Gas Infrastructure, enhancing its market position in one of Western Canada's largest independent gas processing platforms, although financial terms remain undisclosed.
- Governance Stability: Pembina Pipeline (PBA) will retain its 60% stake, and the existing governance structure will remain unchanged, indicating that Apollo's entry will not disrupt PGI's operational management, ensuring business continuity.
- Robust Operational Capacity: PGI operates 23 gas processing plants with approximately 3,900 km of gathering pipelines and a daily extraction capacity of 330,000 barrels of natural gas liquids, strategically positioned to serve customers across the Montney and Duvernay trends.
- Strategic Partnership Outlook: Pembina Pipeline CEO Scott Burrow emphasized that PGI is a cornerstone of its integrated midstream platform, and Apollo's partnership will further solidify PGI's critical role in Western Canadian energy infrastructure, driving future strategic developments.
See More
Pembina Pipeline Sets Growth Trajectory Through 2030
- Growth Expectations: Pembina Pipeline anticipates a 5%-7% compound annual fee-based adjusted EBITDA per share growth through 2030, driven by higher utilization of existing assets and contributions from new projects, thereby enhancing investor confidence in the company's future.
- Infrastructure Expansion: The company plans to expand its pipelines and gas-processing facilities to handle increased volumes in key producing regions while improving routes that transport oil and gas to higher-value markets, further enhancing its competitive position.
- Hedging Strategy: Currently, approximately 65% of its 2026 frac spread exposure is hedged, with about 40% hedged in Q1 and Q4, and 90% in Q2 and Q3, which helps mitigate the impact of market volatility on the company's financials through effective risk management.
- Industry Comparison: Pembina's growth guidance represents a ~100 basis point increase from its previous 2024-26 target, indicating better alignment with Canadian pipeline peers, reflecting improved returns on existing assets as utilization increases and contributions from projects under construction.
See More
Pembina Pipeline's Commitment to 2030 Growth
- Clear Growth Targets: Pembina Pipeline has committed to achieving a 5-7% compound annual growth rate in fee-based adjusted EBITDA per share by 2030, underpinned by higher utilization of existing assets and contributions from sanctioned projects, reflecting the company's confidence in stable growth.
- Project-Driven Development: The company plans to extend its franchise through a portfolio of development opportunities, ensuring sustained growth in the coming years, particularly with investments in LNG, LPG, and emissions reduction infrastructure.
- Robust Strategic Execution: Pembina emphasizes disciplined strategy execution and maintaining strong financial guardrails aimed at creating long-term value for shareholders, indicating the company's resilience in the face of market fluctuations.
- Stable Market Performance: As of the last close, Pembina Pipeline shares traded at C$61.80, down 0.43%, reflecting a cautiously optimistic market sentiment regarding its growth prospects.
See More
Pembina Announces Quarterly Preferred Share Dividends
- Dividend Declaration: Pembina Pipeline Corporation's Board of Directors has declared dividends for preferred shares Series 1, 3, 5, 7, and 21 payable on June 1, 2026, indicating the company's ongoing commitment to shareholder returns.
- Dividend Amounts: The dividends for preferred shares are set at CAD 0.407813 for Series 1, CAD 0.376188 for Series 3, CAD 0.425875 for Series 5, CAD 0.372063 for Series 7, and CAD 0.393875 for Series 21, reflecting the company's stable cash flow and profitability.
- Payment Schedule: Dividends for Series 15 and 17 will be paid on June 30, 2026, while Series 25 dividends are scheduled for May 15, 2026, ensuring consistent cash inflows for shareholders across different periods.
- Business Update Webcast: Pembina will hold a webcast on April 7, 2026, to provide a business update, enhancing communication with investors and demonstrating the company's transparency and confidence in future developments.
See More
Pembina Pipeline Corporation Files 2025 Annual Financial Statements
- Financial Report Submission: Pembina Pipeline Corporation has filed its audited consolidated financial statements for the year ended December 31, 2025, with Canadian securities regulators, ensuring transparency and compliance.
- U.S. Securities Filing: The company also submitted its Form 40-F for the year ended December 31, 2025, to the U.S. Securities and Exchange Commission, further enhancing its compliance and investor trust in the North American market.
- Investor Information Access: Shareholders can request printed copies of the audited financial statements and related management discussions free of charge by contacting Investor Relations, demonstrating the company's commitment to shareholder rights.
- Company Background: Pembina Pipeline Corporation has served the North American energy industry for over 70 years, owning a vast network of strategically located assets and focusing on providing safe and reliable energy solutions that support sustainable development.
See More
Pembina Pipeline Declares Quarterly Dividend
- Dividend Declaration: Pembina Pipeline has declared a quarterly dividend of $0.71 per share, consistent with previous distributions, indicating the company's stable cash flow and profitability, which enhances investor confidence.
- Yield Overview: The forward yield of 6.45% is attractive in the current market environment, potentially drawing in income-seeking investors and further boosting the stock's appeal.
- Payment Schedule: The dividend will be payable on March 31, with a record date of March 16 and an ex-dividend date also on March 16, ensuring shareholders receive their earnings promptly and reinforcing their willingness to hold shares.
- Dividend Growth Insights: The ongoing dividend payments, as reflected in PBA's Dividend Scorecard and Yield Chart, demonstrate the company's commitment to shareholders while laying the groundwork for future dividend growth, showcasing a robust strategy in capital management.
See More
