PPL-PA.TO
EnergyPembina Pipeline Corporation · Oil & Gas Midstream · $40B
What is Pembina Pipeline Corporation?
Pembina Pipeline Corporation is a Calgary-based midstream energy company serving producers across Western Canada and broader North American markets. It moves, processes, and markets hydrocarbons through an integrated network of pipelines, facilities, and commercial operations.
Pembina earns revenue by transporting crude oil, natural gas, and natural gas liquids through its pipeline network, processing those commodities at its facilities, and buying and selling hydrocarbon liquids through its marketing arm. Long-term, fee-based contracts with energy producers underpin the majority of its cash flows, giving the business a relatively predictable revenue profile compared with pure commodity producers. Its Marketing and New Ventures segment adds incremental exposure to commodity price movements.
Pembina Pipeline Corporation was incorporated in 1954 and is headquartered in Calgary, Canada.
- Conventional and oil sands pipeline transportation across North America
- NGL fractionation and natural gas processing facilities
- Cavern and ground storage for crude and NGLs
- Rail terminalling services for hydrocarbon liquids
- Hydrocarbon marketing and new energy ventures
Is PPL-PA.TO a Good Stock to Buy?
UQS Score rates PPL-PA.TO as Good overall, reflecting a balanced but mixed picture across its five quality pillars.
The Quality and Valuation pillars both land in Good territory, suggesting the business generates reasonably dependable cash flows and that the preferred share is not obviously expensive relative to what it offers. These two pillars are the clearest positives in the current profile.
The Risk pillar registers as Weak, which is the most notable flag — investors should weigh balance-sheet and sector-level risks carefully. Moat and Growth both sit at Neutral, indicating limited competitive differentiation and modest near-term expansion expectations.
Pro members can view the exact pillar breakdown and underlying financial metrics behind this rating at uqs-score.com. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does PPL-PA.TO pay dividends?
Yes — Pembina Pipeline Corporation pays a dividend.
PPL-PA.TO pays a regular dividend, consistent with Pembina Pipeline's long-standing commitment to returning capital to shareholders. Preferred share dividends like this one are typically structured with a fixed or reset rate and rank ahead of common equity in the payment hierarchy. Pembina's fee-based midstream model supports dividend continuity, though the Weak Risk pillar is worth monitoring.
When does PPL-PA.TO report earnings?
Pembina Pipeline Corporation reports earnings on a quarterly cadence, typical for TSX-listed equities.
Pembina's midstream model tends to produce relatively stable quarterly results given its contract-heavy revenue base. Performance across segments — Pipelines, Facilities, and Marketing — can vary with throughput volumes and commodity spreads. The Neutral Growth pillar suggests results have been steady rather than rapidly expanding.
For the most recent quarter's results and guidance, visit Pembina Pipeline Corporation's investor relations page directly.
PPL-PA.TO Price History
+56.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Pembina Pipeline Corporation?
Based on Pembina Pipeline Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
PPL-PA.TO Long-term Outlook
The Neutral Growth pillar points to a business in a steady-state phase rather than a high-expansion mode. Fee-based contracts provide revenue visibility, but the Weak Risk pillar signals that leverage, commodity exposure through the marketing segment, or broader energy sector headwinds could weigh on the outlook. The Good Valuation pillar suggests the market has already priced in a measured growth trajectory for this preferred share.
Growth drivers
- Stable throughput volumes underpinned by long-term shipper contracts
- Potential expansion of NGL fractionation and processing capacity
- New ventures and energy transition opportunities in the Western Canadian basin
Key risks
- Elevated financial leverage flagged by the Weak Risk pillar
- Commodity price sensitivity in the Marketing and New Ventures segment
- Regulatory and environmental policy shifts affecting Canadian midstream infrastructure
PPL-PA.TO vs Peers
PPL-PA.TO sits within a peer group of Canadian energy preferred shares, each offering a different risk and income profile.
Another Pembina preferred series, differing in reset terms and dividend rate structure from PPL-PA.TO.
An Enbridge cumulative preferred share, backed by a larger integrated pipeline network with broader North American reach.
A separate Pembina preferred series with its own rate-reset schedule, appealing to investors with different duration preferences.
Frequently Asked Questions
What does Pembina Pipeline Corporation do?
Pembina Pipeline transports crude oil, natural gas, and natural gas liquids through pipelines across Western Canada and parts of North America. It also operates processing and fractionation facilities and runs a marketing business that buys and sells hydrocarbon liquids. The company's revenue is largely anchored by long-term, fee-based contracts with energy producers.
Does PPL-PA.TO pay dividends?
Yes. PPL-PA.TO is a preferred share of Pembina Pipeline Corporation and pays a regular dividend. Preferred dividends rank ahead of common share dividends in the payment order, and Pembina's midstream cash flows have historically supported consistent preferred distributions. Check Pembina's investor relations page for the current declared rate and payment schedule.
When does PPL-PA.TO report earnings?
Pembina Pipeline Corporation reports on a quarterly cadence, as is standard for TSX-listed companies. Preferred shareholders benefit from the same underlying corporate results. For exact reporting dates and the most recent quarterly results, refer to Pembina's investor relations page.
Is PPL-PA.TO a good stock to buy?
UQS Score rates PPL-PA.TO as Good overall. The Quality and Valuation pillars are positive signals, while the Weak Risk pillar warrants attention. Whether it suits your portfolio depends on your income needs, risk tolerance, and view on Canadian midstream energy. The full pillar breakdown is available to Pro members at uqs-score.com.
Is PPL-PA.TO overvalued?
The UQS Valuation pillar for PPL-PA.TO is rated Good, suggesting the preferred share does not appear expensive relative to its fundamentals and peer group. Valuation for preferred shares is typically assessed against yield, credit quality, and reset terms rather than earnings multiples. See the complete valuation analysis by signing up for a Pro account.
How does PPL-PA.TO compare to its competitors?
PPL-PA.TO competes within the Canadian energy preferred share universe alongside other Pembina series such as PPL-PC.TO and PPL-PQ.TO, as well as Enbridge preferred shares like ENB-PFK.TO. Each series carries different reset dates, dividend structures, and issuer credit profiles. UQS Score provides side-by-side pillar comparisons for Pro members.
What is PPL-PA.TO's market cap bracket?
Pembina Pipeline Corporation is classified as a large-cap company on the TSX. As a preferred share series, PPL-PA.TO represents a portion of Pembina's overall capital structure rather than a standalone equity. Large-cap status generally implies greater liquidity and institutional coverage compared with smaller issuers.
Who founded Pembina Pipeline Corporation?
Pembina Pipeline was incorporated in 1954, originally established to serve the growing Alberta oil patch. The company has evolved significantly over decades through acquisitions and organic growth into the diversified midstream operator it is today. Detailed founding history is widely available through Pembina's official corporate publications.
Is PPL-PA.TO a long-term quality investment?
From a long-term quality perspective, PPL-PA.TO scores Good on the UQS composite. The Quality pillar reflects reasonably dependable cash generation from Pembina's contract-based model, but the Weak Risk pillar is a factor to monitor over a longer horizon. UQS Score is designed to help investors track quality changes over time — Pro members receive the full breakdown.
What is the main competitive advantage of Pembina Pipeline?
Pembina's primary advantage lies in its integrated midstream infrastructure — pipelines, processing plants, fractionators, and storage — that serves Western Canadian producers under long-term contracts. This creates switching costs and geographic barriers to entry. However, the UQS Moat pillar currently sits at Neutral, indicating that this advantage is present but not among the strongest in the energy sector.
What sector does PPL-PA.TO belong to?
PPL-PA.TO is issued by Pembina Pipeline Corporation, which operates in the Energy sector — specifically midstream energy infrastructure. Midstream companies sit between upstream producers and downstream refiners or end users, typically earning fees for transportation and processing rather than taking direct commodity price risk, though Pembina's marketing segment does carry some commodity exposure.
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Pro Analysis
PPL-PA.TO — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| Jul 25, 2026 | 53.2 | 60.4 | 48.0 | 48.9 | 30.8 | 78.0 | -0.1 |
| Jul 24, 2026 | 53.3 | 60.5 | 48.0 | 48.9 | 30.8 | 78.7 | 0.0 |
| Jul 23, 2026 | 53.3 | 60.5 | 48.0 | 48.9 | 30.8 | 78.6 | 0.0 |
| Jul 21, 2026 | 53.3 | 60.6 | 48.0 | 48.9 | 30.8 | 78.5 | +0.1 |
| Jul 20, 2026 | 53.2 | 60.5 | 48.0 | 48.9 | 30.8 | 77.5 | +0.1 |
| Jul 18, 2026 | 53.1 | 60.5 | 48.0 | 48.7 | 30.8 | 77.5 | -0.1 |
| Jul 17, 2026 | 53.2 | 60.5 | 48.0 | 48.7 | 30.8 | 77.8 | 0.0 |
| Jul 16, 2026 | 53.2 | 60.7 | 48.0 | 48.4 | 30.8 | 78.4 | -0.2 |
| Jul 15, 2026 | 53.4 | 60.7 | 48.0 | 48.4 | 30.8 | 79.5 | -0.1 |
| Jul 14, 2026 | 53.5 | 60.7 | 48.0 | 48.4 | 30.8 | 80.0 | -0.2 |
PPL-PA.TO — Pillar Breakdown
Quality
— 60.4/100 (25%)Pembina Pipeline Corporation shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 48.9/100 (20%)Pembina Pipeline Corporation shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 30.8/100 (15%)Pembina Pipeline Corporation presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 79.3/100 (15%)Pembina Pipeline Corporation appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 48/100 (25%)Pembina Pipeline Corporation possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for PPL-PA.TO.
Score Composition
Financial Data
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How is the PPL-PA.TO UQS Score Calculated?
The UQS (Unified Quality Score) for Pembina Pipeline Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Pembina Pipeline Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Pembina Pipeline Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.