Pembina Pipeline Corporation

NYSE:PBA Stock Report

Market Cap: US$27.4b

Pembina Pipeline Management

Management criteria checks 3/4

Pembina Pipeline's CEO is J. Burrows, appointed in Nov 2021, has a tenure of 4.58 years. total yearly compensation is CA$12.22M, comprised of 10.9% salary and 89.1% bonuses, including company stock and options. directly owns 0.014% of the company’s shares, worth $3.81M. The average tenure of the management team and the board of directors is 1.8 years and 7.4 years respectively.

Key information

J. Burrows

Chief executive officer

CA$12.2m

Total compensation

CEO salary percentage10.93%
CEO tenure4.6yrs
CEO ownership0.01%
Management average tenure1.8yrs
Board average tenure7.4yrs

Recent management updates

Recent updates

Seeking Alpha • Jun 22

Pembina Pipeline: Energy Security Is Becoming A Bigger Growth Driver

Summary Pembina Pipeline remains a buy, targeting a $53.55 price and 16% upside, supported by stable cash flows and strategic project development. PBA maintains 5%-7% annual EBITDA per share growth guidance through 2030, driven by asset utilization and sanctioned projects amid an evolving fee-based revenue mix. Q1 results showed a 3.9% revenue decline to C$1.29B, but facilities EBITDA grew; pipeline revenues were impacted by Alliance Pipeline’s new toll structure. Dividend yield on cost could reach 4.8%, with free cash flow expected to rebound post-2025 as capital intensity moderates and margins expand by 2028. Read the full article on Seeking Alpha
Seeking Alpha • Apr 23

Pembina Preferreds Hit The Sweet Spot With 7.7% Yield

Summary We had previously recommended deep-in-the-money covered calls for Pembina and noted the lack of opportunities in Pembina's preferred shares. We did find one new opportunity in the selloff. We tell you why this is a good deal and why we are getting married to this one versus just having an affair. Read the full article on Seeking Alpha
Seeking Alpha • Dec 02

Pembina Pipeline: Low-Risk Dividend Play, Series 5 Preferreds Offer Competitive Yield

Summary The election of Donald Trump is expected to benefit Canadian energy firms like Pembina Pipeline, aligning with its strategic focus on global energy demand. Pembina's diversified portfolio and long-term contracts provide low-risk, stable returns. A 12.9% upside to the current market price results in a long-term Buy rating. Series 5 preferred shares offer a current yield of 7.3%, while Series 7 preferreds after reset are likely to be less attractive, with a yield of 6.9%. The weak Canadian economy and low inflation will likely result in the Bank of Canada's continuing interest rate cuts. This should boost long-term capital gains for Pembina’s shares. Read the full article on Seeking Alpha
Seeking Alpha • Oct 07

Pembina Pipelines: Preferreds Getting Expensive, But We Are Still Playing One

Summary Pembina's recent acquisitions were expensive on EBITDA multiples and show the limited opportunities that it has for organic growth. Pembina Preferred shares can be categorized into three groups: short-term bond-like instruments, overvalued minimum reset shares, and slightly undervalued shares resetting soon. We go over these 3 groups and tell you which one we bought. Read the full article on Seeking Alpha
Seeking Alpha • Sep 16

Pembina Pipeline: A Steady Flow Of Income And Growth

Summary Pembina Pipeline Corp. offers a 4.9% dividend yield, supported by strong business fundamentals, fee-based revenue, and strategic acquisitions. PBA achieved a 33% YoY EBITDA increase and raised 2024 guidance due to better-than-expected acquisition synergies. The company maintains a healthy balance sheet with low leverage and significant liquidity, supporting financial stability and growth potential. Read the full article on Seeking Alpha
Seeking Alpha • Jul 05

Pembina Pipelines: Why We Bought The 8.31% Yielding Preferreds

Summary Pembina Pipeline Corporation reported strong Q1-2024 results, beating analyst estimates. Pembina reached FID on Cedar LNG and also acquired assets from Whitecap Resources. We tell you why we went with the PPL.PR.E preferred shares in the recent preferred selloff. Read the full article on Seeking Alpha
Seeking Alpha • Apr 27

Pembina Pipelines Series 5 Preferreds: Strong Upside Potential Ahead

Summary Pembina Pipelines Series 5 preferred shares offer a strong upside potential over the next 6-12 months. The fixed dividend for these shares will be recalculated on May 2, 2024, resulting in a much higher annual dividend. The company may also redeem the preferred shares. The Bank of Canada's anticipated interest rate cuts in the second half of 2024 could lead to capital appreciation. Pembina Pipeline is a high-quality, low-risk infrastructure company with strategically located, diversified assets, a strong balance sheet, and years of growing dividends. Read the full article on Seeking Alpha
Seeking Alpha • Mar 01

Pembina: Large Dividend Hike Likely In Store For 2024

Summary Pembina Pipeline Corporation's Q4 2023 results slightly exceeded expectations, with adjusted funds from operations at $1.36 per share. The company made significant growth-focused announcements for 2024, including ethane supply agreements with Dow Inc. Pembina's guidance for 2024 adjusted EBITDA is conservative compared to consensus estimates, and a large dividend hike is likely in store for 2024. Despite these positives, we are now moving to a hold. Read the full article on Seeking Alpha
Seeking Alpha • Dec 17

Pembina Pipeline: Alliance Acquisition Strengthens The Thesis

Summary Pembina Pipeline Corporation acquires Enbridge's stakes in joint ventures, increasing its ownership and cash flow from existing infrastructure. The market reacts negatively to the news, possibly due to the issuance of subscription receipts and dilution of shares. The acquisition is expected to be immediately accretive to Pembina Pipeline's cash flow per share, but the acquisition multiple is not impressive compared to industry peers. The overall thesis does not change, and Pembina Pipeline continues to look like an excellent way to get a 5.96% yield today. Read the full article on Seeking Alpha
Seeking Alpha • Dec 06

Pembina Pipeline: Preferreds Deliver Fantastic Returns, Where To Go Next

Summary Pembina Pipeline Corp. delivered solid Q3-2023 results, beating consensus and increasing its adjusted EBITDA guidance. Management expressed confidence in the 2024 outlook and prioritized debt reduction in its capital allocation plan. We examine the setup on the common and high yielding preferred shares. Read the full article on Seeking Alpha
Seeking Alpha • Nov 13

Pembina Pipeline: Q3 Results Showcase The Company's Overall Financial Strength

Summary Pembina Pipeline Corporation reported lower revenue but increased cash flows in its Q3 2023 earnings results. The company's stock price has been performing well, outperforming the S&P 500 Index over the past month. Pembina Pipeline's financial stability and attractive dividend yield make it an attractive investment option, although its yield is lower than some peers in the midstream sector. The company is much less indebted than some peer companies, so it has not been as impacted by the rising interest rates as some other midstream firms. The company's current dividend appears to be very sustainable. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has J. Burrows's remuneration changed compared to Pembina Pipeline's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

CA$2b

Dec 31 2025CA$12mCA$1m

CA$2b

Sep 30 2025n/an/a

CA$2b

Jun 30 2025n/an/a

CA$2b

Mar 31 2025n/an/a

CA$2b

Dec 31 2024CA$12mCA$1m

CA$2b

Sep 30 2024n/an/a

CA$2b

Jun 30 2024n/an/a

CA$2b

Mar 31 2024n/an/a

CA$2b

Dec 31 2023CA$12mCA$1m

CA$2b

Sep 30 2023n/an/a

CA$1b

Jun 30 2023n/an/a

CA$3b

Mar 31 2023n/an/a

CA$3b

Dec 31 2022CA$11mCA$1m

CA$3b

Sep 30 2022n/an/a

CA$3b

Jun 30 2022n/an/a

CA$1b

Mar 31 2022n/an/a

CA$1b

Dec 31 2021CA$8mCA$668k

CA$1b

Sep 30 2021n/an/a

-CA$205m

Jun 30 2021n/an/a

-CA$476m

Mar 31 2021n/an/a

-CA$475m

Dec 31 2020CA$3mCA$592k

-CA$476m

Sep 30 2020n/an/a

CA$907m

Jun 30 2020n/an/a

CA$961m

Mar 31 2020n/an/a

CA$1b

Dec 31 2019CA$3mCA$542k

CA$1b

Compensation vs Market: J.'s total compensation ($USD8.59M) is below average for companies of similar size in the US market ($USD14.67M).

Compensation vs Earnings: J.'s compensation has been consistent with company performance over the past year.

CEO

J. Burrows (46 yo)

4.6yrs
Tenure
CA$12,224,697
Compensation

Mr. J. Scott Burrows, C.F.A. has been Chief Executive Officer, President and Director at Pembina Pipeline Corporation since February 22, 2022. He serves as Director of Canadian Western Bank since February...

Leadership Team

NamePositionTenureCompensationOwnership
J. Burrows
President4.6yrsCA$12.22m0.014%
$ 3.8m
Cameron Goldade
Chief Financial Officer4.6yrsCA$3.39m0.0062%
$ 1.7m
Jaret Sprott
Chief Operating Officer4.3yrsCA$4.77m0.0095%
$ 2.6m
Allan Charlesworth
Vice President of Technical Servicesno datano datano data
Scott Arnold
Manager of Investor Relationsno datano datano data
Sarah Schwann
Chief Legalless than a yearno data0.00014%
$ 38.3k
Christopher Scherman
Chief Marketing & Strategy Officer3.3yrsno data0.0020%
$ 541.8k
Dan Tucunel
Vice President of Capital Marketsno datano data0.0018%
$ 478.9k
Christopher Rousch
Senior Vice President of Commercial & Customer Serviceless than a yearno data0.00071%
$ 194.3k
Carl Balfour
Senior Vice President of Project Delivery & Technical Excellenceless than a yearno data0.00076%
$ 208.0k
Carmen Lee-Essington
Senior Vice President of Operationsless than a yearno data0.000030%
$ 8.2k
Jason Metcalf
VP, General Counsel & Corporate Secretaryno datano datano data
1.8yrs
Average Tenure

Experienced Management: PBA's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
J. Burrows
President4.3yrsCA$12.22m0.014%
$ 3.8m
Henry Sykes
Independent Chairman of the Board8.7yrsCA$495.00k0.0032%
$ 864.7k
Cynthia Blum Carroll
Independent Director6.1yrsCA$400.46kno data
Leslie O'Donoghue
Independent Director17.5yrsCA$290.84k0.0061%
$ 1.7m
Alister Cowan
Independent Non-Executive Director1.5yrsCA$285.22k0.0020%
$ 550.0k
David Malcolm LeGresley
Independent Director15.8yrsCA$298.24k0.0084%
$ 2.3m
Andy Mah
Independent Director3.3yrsCA$297.50k0.0037%
$ 1.0m
Bruce Rubin
Independent Director9.1yrsCA$397.55k0.0034%
$ 941.3k
Maureen Howe
Independent Director8.7yrsCA$305.00k0.0046%
$ 1.3m
Ana Dutra
Independent Director4.1yrsCA$407.18kno data
7.4yrs
Average Tenure
67yo
Average Age

Experienced Board: PBA's board of directors are considered experienced (7.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/24 10:21
End of Day Share Price 2026/06/24 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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 32 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