Yields stay high at these two ex-trusts

Article Excerpt

PEMBINA PIPELINE CORPORATION $25.49 (Toronto symbol PPL; Shares outstanding: 165.7 million; Market cap: $4.3 billion; TSI Network Rating: Extra Risk; Dividend yield: 6.1%; www.pembina.com) owns nine pipeline systems with a total length of over 8,000 kilometres. These pipelines pump oil and gas from fields in B.C. and Alberta to refineries, or feed into major pipelines, such as the Enbridge Pipeline System. Pembina also owns the Syncrude, Horizon and Cheecham pipelines, which pump crude oil from the Alberta oil sands. In addition, the company holds a 50% stake in the Fort Saskatchewan Ethylene Storage Limited Partnership. It also owns the Cutbank Complex, a network of natural gas gathering and processing facilities. In the three months ended June 30, 2011, Pembina’s cash flow rose 42.8%, to $83.1 million, or $0.50 a share, from $58.2 million, or $0.36 a share, a year earlier. That’s because producers shipped more oil and gas through Pembina’s pipelines. Pembina converted from an income trust on October 1, 2010. It…