2026 Financial Outlook: Pembina anticipates adjusted EBITDA for 2026 to range between $4.125 billion and $4.425 billion, reflecting a 4% increase in fee-based adjusted EBITDA, indicating strong growth potential amid North America's energy transformation.
Cedar LNG Agreement: The 12-year agreement with Ovintiv for 0.5 mtpa of liquefaction capacity at Cedar LNG is expected to generate stable long-term revenues of $220 million to $280 million annually, further solidifying Pembina's position in the global LNG market.
Pipeline System Expansion: The Fox Creek-to-Namao expansion of the Peace Pipeline System is projected to add 70,000 barrels per day of delivery capacity at an estimated cost of $200 million, with an expected in-service date in Q1 2027, significantly enhancing operational flexibility.
Capital Investment Plan: Pembina's 2026 capital budget totals $1.6 billion, including $380 million for the Cedar LNG project, demonstrating the company's ongoing commitment to strategic growth and infrastructure development.
PBA
$36.93+Infinity%1D
Analyst Views on PBA
Wall Street analysts forecast PBA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PBA is 40.77 USD with a low forecast of 35.50 USD and a high forecast of 44.02 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast PBA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PBA is 40.77 USD with a low forecast of 35.50 USD and a high forecast of 44.02 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 38.540
Low
35.50
Averages
40.77
High
44.02
Current: 38.540
Low
35.50
Averages
40.77
High
44.02
TD Securities
Aaron MacNeil
Buy
downgrade
$66 -> $65
2025-11-07
Reason
TD Securities
Aaron MacNeil
Price Target
$66 -> $65
2025-11-07
downgrade
Buy
Reason
TD Securities analyst Aaron MacNeil lowered the firm's price target on Pembina Pipeline to C$65 from C$66 and keeps a Buy rating on the shares.
BMO Capital
Ben Pham
Outperform
to
Outperform
downgrade
$59 -> $57
2025-08-11
Reason
BMO Capital
Ben Pham
Price Target
$59 -> $57
2025-08-11
downgrade
Outperform
to
Outperform
Reason
BMO Capital analyst Ben Pham lowered the firm's price target on Pembina Pipeline to C$57 from C$59 and keeps an Outperform rating on the shares.
Raymond James
NULL -> Outperform
maintain
$63 -> $64
2025-08-11
Reason
Raymond James
Price Target
$63 -> $64
2025-08-11
maintain
NULL -> Outperform
Reason
Raymond James raised the firm's price target on Pembina Pipeline to C$64 from C$63 and keeps an Outperform rating on the shares.
Wells Fargo
Equal Weight -> Underweight
downgrade
$57 -> $50
2025-08-06
Reason
Wells Fargo
Price Target
$57 -> $50
2025-08-06
downgrade
Equal Weight -> Underweight
Reason
Wells Fargo downgraded Pembina Pipeline to Underweight from Equal Weight with a price target of C$50, down from C$57. The firm says its negative thesis hinges on 4-year EBITDA growth falling to 2.6% vs. consensus of 4.6% due to re-contracting and valuation risk as Pembina's growth slows and competitive threats increase.
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.
