Pembina Pipeline has seen double-digit growth in its cash flow thanks to the expansion of its natural gas-processing business. The move has also helped it to increase its high-yield dividend.
PEMBINA PIPELINE (Toronto symbol PPL; www.pembina.com) owns pipelines that carry almost all of B.C.’s oil and half of Alberta’s conventional oil. It also carries 30% of Western Canada’s natural gas liquids (NGLs).
In fact, the company owns extensive facilities to extract, process and store NGLs, as well as natural gas processing plants.
In the three months ended June 30, 2016, Pembina’s cash flow per share rose 17.6%, to $0.60 from $0.51.
So far this year, the company has placed $1.6 billion of new assets into service. This includes $1 billion in gas-processing facilities.
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As well, Pembina recently completed the $556.0 million acquisition of a new natural gas processing complex in northwestern Alberta. As part of the deal, the company will process gas for Paramount Resources under a 20-year contract.
Pembina’s stock trades at 16.2 times its expected 2016 cash flow of $2.43 a share. The company raised its monthly dividend by 4.9% with the May 2016 payment, to $0.16 from $0.1525; it yields 4.4%.
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Lousy new presentation in daily emails….starts with a teaser and then the rest is all promotion…..especialy todays post on Pembina
I like Pembina. I was a little confused by their move deeper into processing more natural gas, but they must see it as a growth opportunity. Thanks.