Pembina Pipeline Corp (PPL.TO) Buy, Sell or…

Pembina Pipeline Corp (PPL.TO)

67.55

+0.38 (0.57%)

as of Oct 9, 2026, 8:00:00 pm Market Open.

1167 watching

BUY ON WEAKNESS

It had a lot of growth ahead, then the pandemic threw that into question. It's waiting on the future demand for energy and pipelines. The monthly dividend is safe as long as contracted players continue to pay, but the risk is in those contracts voiding and defaulting. This applies to peers like Keyera. PPL is more diversified and bigger vs. its peers. He's picking away at it, but this is a volatile space. Oil stocks are grinding higher, though, as the WTI price keeps rising and shale oil is not coming back and Canadian production is flatlining. Buy at low-$30/high-$20s. Hold at mid-$30s and hope things will normalize.

HOLD

Prefers Enbridge, as the growth is higher and the dividend has become almost 7%. PPL is a safe place to be if we get a bit of a pullback. If you own it, keep holding.

BUY

She's confident in Pembina, which have a combination of oil and natural gas pipelines, plus midstream operations. Pembina have made acquisitions which have improved their U.S. presence. Pembina was prudent when the pandemic hit when they slashed capex to protect their dividend and balance sheet. It yield's over 7%. Their midstream operations in the Montney are well-positioned and low cost. They delayed their capex projects, but will bring back those projects slowly which will strengthen their growth profile.

TOP PICK

A beautiful yield and decent upside. An excellent quality balance sheet. A safe place to put your money and avoid paying 30 times book value and taking on large market risks. Yield 7.5% (Analysts’ price target is $38.95)

COMMENT

He doesn't know which pipeline would be better than the other one. However, he prefers to play energy with pipelines in general. He has been focusing on the US since there, they are more supportive of the sector. The Canadian government is less supportive of pipelines. It's not a growth area for him.

BUY

A well-run pipeline company. The dividend is safe at 7.5%. As oil prices recover, he thinks pipelines will deliver crude for many years. Growth will be tough though. He'd be happy to hold it here.

COMMENT

Sell Banks for Pipelines? He likes this strategy. Balance the weight between both he suggests. Pipelines are economically sensitive these days, due to their weightings in the energy ETFs. ENB, TRP and PPL have been particularly sensitive. He thinks the valuations warrant investment here.

BUY

This is a smart long term play. It has a well contracted asset base. It is diverse. It has a lot of things going for it. Within the pipeline industry it is one he would find more exciting at this time.

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BUY

A good company with take-or-pay contracts. If oil fills storage and producers go bankrupt, they may need to revise terms. He likes management and the dividend rate. In a world of higher oil prices, this will do well. You can add here. They have been a good steward of capital, with projects coming in on time and on schedule.

BUY

Preferred share with 8.73%. It is a mid-stream company and the underlying stock is down quite a bit. He likes it as a business. The credit that you have within this space is really quite good. He sees no reason why they would default on the payment. It is just lumped into energy.

HOLD

This is one of the difficult themes coming through these times. Energy is as cheap as it has been vs. the S&P in the last 30 years. Structurally there is a headwind. The most defensive part of energy would be the pipes and this one is a good quality company. He has almost no exposure to the energy space. He thinks you can count on the distribution, but the total return may not be great. He would prefer to see a turn happen first before putting new money to work.

PAST TOP PICK

(A Top Pick May 14/19, Down 28%) They still it own as one of two pipeline holdings. They were active mid-March as COVID began and oil prices collapsed. They cut their discretionary capex by $4.5 billion, of which $1 billion will be cut this year. Recent earnings reported were fine and they have continued guidance at the lower end of the range. Take or pay contracts are good. Dividend payout ratios are about 60%. Yield 7.5%

BUY ON WEAKNESS

PPL & ALA? PPL at $18.50 is his target buy price. ALA might be a good buy if we take out the lows of March.

BUY

Trashed along with the entire energy sector. Surprising how low this fell, but he bought in the mid-20s. Safe dividend. Smart operators. They can reduce costs further, if needed. The selling is way overdone here and with Enbridge.

COMMENT

Historically these have been great assets to own. They will follow energy stocks in general too. He prefers to own KEY over PPL. There have been concerns about insolvencies with producers in the energy space with low oil prices. He has added more to their KEY holdings, thinking the natural gas space is safer than oil right now. He would own a couple of holdings in a diversified way.

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Pembina Pipeline Corp (PPL.TO)