Pembina Pipeline Corporation

TSX:PPL Stock Report

Market Cap: CA$39.5b

Pembina Pipeline Future Growth

Future criteria checks 1/6

Pembina Pipeline is forecast to grow earnings and revenue by 8.8% and 2.6% per annum respectively. EPS is expected to grow by 8% per annum. Return on equity is forecast to be 11.8% in 3 years.

Key information

8.8%

Earnings growth rate

7.97%

EPS growth rate

Oil and Gas earnings growth10.2%
Revenue growth rate2.6%
Future return on equity11.83%
Analyst coverage

Good

Last updated07 Jul 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 17

PPL: Ethane Supply Agreements And Dividend Increase Will Shape Future Outlook

Analysts have made a small upward adjustment to their price target for Pembina Pipeline, with fair value moving from about CA$67.11 to approximately CA$67.67. This reflects updated views on revenue growth, profit margins, and future P/E assumptions.
Narrative Update • Jun 03

PPL: Heartland Project And Ethane Deals Will Shape Future Fair Value

Analysts have raised their price target on Pembina Pipeline to CA$67.11 from CA$63.61, citing updated assumptions around long term fair value and a slightly higher future P/E multiple, while keeping revenue growth, profit margin, and discount rate estimates broadly unchanged. What's in the News Pembina approved the CA$570m Heartland Extraction Plant project in Alberta, a 750 million cubic feet per day straddle plant that is planned to use the company’s liquids extraction rights on the Yellowhead Pipeline, according to recent company announcements and news reports.
Narrative Update • May 14

PPL: Higher Margins And Paused Buybacks Will Shape Future Fair Value

Analysts have nudged their fair value estimate for Pembina Pipeline to CA$63.61 from CA$62.94, citing updated assumptions around discount rates, revenue growth, profit margins and forward P/E expectations. What's in the News Pembina Pipeline reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for CA$0 million under its buyback program.
Narrative Update • Apr 30

PPL: Stable Margins And Paused Buybacks Will Support Future Fair Value

Analysts now see Pembina Pipeline's fair value nudging up from about CA$62.89 to roughly CA$62.94, reflecting small tweaks to long term assumptions on revenue growth, profit margins, and future P/E levels. What's in the News Pembina Pipeline reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for CAD 0 million under its existing buyback program (Key Developments).
Narrative Update • Apr 16

PPL: Stable Margins And No Buybacks Will Support Fair Value

Analysts have nudged their fair value estimate for Pembina Pipeline to CA$62.89 from CA$62.00, citing slightly higher assumed revenue growth, a modestly stronger profit margin profile, and a largely unchanged future P/E outlook. What's in the News The company reported that between October 1, 2025 and December 31, 2025, it repurchased 0 shares for a total of CA$0 million under its ongoing buyback program.
Narrative Update • Apr 01

PPL: Stable Margins And Higher P/E Assumptions Will Support Fair Value

Analysts have adjusted their fair value estimate for Pembina Pipeline to CA$62.00 to reflect updated assumptions, including slightly lower revenue growth, a marginally higher long-term P/E multiple, and a stable discount rate. What's in the News Pembina Pipeline reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for CAD 0 million under its ongoing buyback program.
Narrative Update • Mar 18

PPL: Stable Margins And Higher P/E Assumptions Will Support Fair Value

Analysts have raised their price target on Pembina Pipeline to CA$61.44 from CA$60.39. This reflects updated fair value estimates and modest adjustments to long term profit margin and P/E assumptions.
Narrative Update • Mar 04

PPL: Long-Term LNG Capacity Agreement Will Support Steady Outlook And Fair Value

Analysts have lifted their fair value estimate for Pembina Pipeline from CA$58.78 to CA$60.39, reflecting updated assumptions for revenue growth, profit margins and future P/E expectations. What's in the News Pembina Pipeline and a subsidiary of Ovintiv Inc.
Narrative Update • Feb 17

PPL: New Long-Term LNG Agreement Will Support Steady Outlook And Fair Value

Analysts have inched up their price target on Pembina Pipeline to CA$58.78 from CA$58.72, reflecting updated views on fair value, discount rates, expected revenue growth, profit margins, and future P/E assumptions. What's in the News Pembina Pipeline and Ovintiv Inc.
Analysis Article • Jan 29

We Think Pembina Pipeline (TSE:PPL) Can Stay On Top Of Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Narrative Update • Dec 25

PPL: Long-Term LNG Contracts Will Support Margins And Undervalued Upside

Analysts have nudged their price target on Pembina Pipeline slightly lower, trimming fair value by about $0.33 to roughly $58.72 per share, as they factor in more modest revenue growth expectations, partly offset by a marginal improvement in projected profit margins and a slightly cheaper future earnings multiple. What's in the News Pembina and PETRONAS subsidiaries signed a 20-year agreement for 1.0 mtpa of liquefaction capacity at the USD 4 billion Cedar LNG project, which remains on time and on budget with an expected in-service date in late 2028 (Key Developments).
Narrative Update • Dec 10

PPL: Long Term Projects And Stable Margins Will Guide Balanced Future Outlook

Analysts have modestly raised their price target on Pembina Pipeline to approximately $59.06, citing stable long term revenue growth expectations and resilient profit margins that support maintaining a similar valuation multiple. What's in the News Pembina and PETRONAS signed a 20 year agreement for 1.0 mtpa of liquefaction capacity at the USD 4 billion Cedar LNG project, which remains on time and on budget with an expected in service date in late 2028 (company news release).
Narrative Update • Nov 26

PPL: Major Project Agreements and Margin Gains Will Guide Measured Future Outlook

Analysts have slightly raised their price target for Pembina Pipeline, increasing it from $58.89 to $59.06. This adjustment is attributed to incremental improvements in profit margins and updated revenue growth outlooks.
Narrative Update • Nov 12

PPL: Upcoming Project Milestones and Improved Margins Will Shape Outlook

Analysts have raised their price target for Pembina Pipeline slightly, increasing it from $58.78 to $58.89. They cite modest improvements in revenue growth and profit margins as key factors behind the adjustment.
Narrative Update • Oct 29

New Projects And Steady Performance Will Balance Risks And Opportunities Ahead

Pembina Pipeline's analyst price target has seen a modest increase from $58.67 to $58.78, as analysts cite incremental improvements in the company’s fair value estimates and forward multiple metrics. What's in the News Pembina Pipeline announced the redemption of Series 9 Class A Preferred Shares.
Narrative Update • Oct 14

Midstream Expansion And Cedar LNG Will Create A Resilient Future

Analysts have increased their price target for Pembina Pipeline from $58.06 to $58.67. This change reflects adjustments to their revenue growth forecasts and updated financial metrics.
Narrative Update • Sep 04

Midstream Expansion And Cedar LNG Will Create A Resilient Future

With consensus forecasts for revenue growth and future P/E both holding steady, analysts have left Pembina Pipeline's fair value unchanged at CA$58.06. What's in the News Pembina Pipeline entered a long-term agreement with AltaGas Ltd., securing 30,000 bpd of liquids export capacity at the Ridley Island Propane Export Terminal and future Ridley Island Energy Export Facility, with 20,000 bpd starting in April 2026 and an additional 10,000 bpd in April 2027.
User avatar
New Narrative • Nov 07

Full Ownership And Calculated Partnerships Ignite Future Growth Prospects

Complete ownership in Aux Sable's U.S. operations and strategic JV investments can drive revenue growth through enhanced service offerings and infrastructure development.

Earnings and Revenue Growth Forecasts

TSX:PPL - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20289,2091,9642,5493,3836
12/31/20279,0031,8472,0833,2487
12/31/20268,7561,7751,7052,9457
3/31/20267,6021,5521,9692,796N/A
12/31/20257,7781,5502,4893,301N/A
9/30/20258,0101,6302,5273,342N/A
6/30/20258,0631,7252,5573,454N/A
3/31/20258,1261,7812,6493,618N/A
12/31/20247,3841,7212,2333,214N/A
9/30/20247,0751,8522,2763,192N/A
6/30/20246,6861,8212,0922,914N/A
3/31/20246,2531,7141,9402,613N/A
12/31/20236,3311,6482,0142,635N/A
9/30/20237,1941,1962,1172,702N/A
6/30/20238,5182,6772,2352,781N/A
3/31/202310,1912,7332,1532,732N/A
12/31/202211,6112,8422,3032,929N/A
9/30/202211,4722,6722,0172,679N/A
6/30/202210,8421,4312,1272,869N/A
3/31/20229,6491,2642,1152,849N/A
12/31/20218,6271,0981,9672,650N/A
9/30/20217,747-2052,0472,719N/A
6/30/20217,094-4761,5982,240N/A
3/31/20216,298-4751,5842,298N/A
12/31/20205,953-4761,1772,252N/A
9/30/20206,0279078672,214N/A
6/30/20206,2319617202,315N/A
3/31/20206,9331,3745192,334N/A
12/31/20197,2301,376N/A2,532N/A
9/30/20197,2021,586N/A2,478N/A
6/30/20197,5471,552N/A2,424N/A
3/31/20197,4821,135N/A2,366N/A
12/31/20187,3511,153N/A2,256N/A
9/30/20187,3411,235N/A2,105N/A
6/30/20186,3411,023N/A1,926N/A
3/31/20185,757906N/A1,685N/A
12/31/20175,400797N/A1,513N/A
9/30/20174,935490N/A1,276N/A
6/30/20174,860498N/A1,221N/A
3/31/20174,728497N/A1,132N/A
12/31/20164,265394N/A1,077N/A
9/30/20164,256399N/A1,076N/A
6/30/20164,312398N/A1,016N/A
3/31/20164,498333N/A952N/A
12/31/20154,635355N/A801N/A
9/30/20154,652311N/A712N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PPL's forecast earnings growth (8.8% per year) is above the savings rate (3%).

Earnings vs Market: PPL's earnings (8.8% per year) are forecast to grow slower than the Canadian market (10.8% per year).

High Growth Earnings: PPL's earnings are forecast to grow, but not significantly.

Revenue vs Market: PPL's revenue (2.6% per year) is forecast to grow slower than the Canadian market (4.8% per year).

High Growth Revenue: PPL's revenue (2.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PPL's Return on Equity is forecast to be low in 3 years time (11.8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/10 02:43
End of Day Share Price 2026/07/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Pembina Pipeline Corporation is covered by 33 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
null nullArgus Research Company
Nathan HeywoodATB Cormark