BMO Capital Updates Pembina Pipeline (PBA) Outlook After Estimate Review

Pembina Pipeline Corporation (NYSE:PBA) is included among the 15 Global Dividend Stocks to Diversify Your Portfolio.

On December 16, BMO Capital analyst Ben Pham lowered the firm’s price target on Pembina Pipeline Corporation (NYSE:PBA) to C$58 from C$59 and kept an Outperform rating on the shares.

Pembina pays a quarterly dividend and offers an annualized yield of about 5.5%. That steady income stream still matters to investors who rely on cash returns. Its contract-based infrastructure model also helps. These assets tend to perform more consistently when markets feel unsettled.

In the third quarter of 2025, Pembina Pipeline Corporation (NYSE:PBA) reported adjusted EBITDA of $1.03 billion. That represented a modest year-over-year increase. Higher contracted volumes helped, along with inflation-linked toll adjustments on key systems like the Peace Pipeline. Pipeline utilization improved as demand strengthened.

Facilities operations added to the results as well. Natural gas processing volumes rose, particularly in the Duvernay region. What stood out most was cash flow. Adjusted cash flow from operating activities reached $648 million in the quarter. That more than covered dividend payments. For investors focused on dividends, this kind of coverage matters. Especially at a time when dividend growth across the market is slowing or being put on hold.

Pembina Pipeline Corporation (NYSE:PBA) operates one of the largest energy transportation and midstream networks in Canada. Its assets move crude oil, natural gas, and natural gas liquids through pipelines, processing facilities, and export infrastructure.

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