Pembina Pipeline (PBA) operates a network of crude oil, natural gas liquids and natural gas pipelines in western Canada, plus gas processing and fractionation facilities and export terminals that connect Alberta supply to coastal and US markets. Its contracted, fee-based midstream model, reflected in a 34.0% operating margin and 38.9% gross margin, gives it cash flows that are less tied to commodity prices than upstream producers. Revenue grew 20.1% over the reported period, and at a 23.3x trailing and 21.3x forward P/E the market is paying a premium that the next earnings cycle needs to justify. The 10.5% ROE is modest for a company this size, so the question for the deeper look is whether capital spending on expansion projects, including Alberta gas processing and LPG export capacity, lifts returns as those assets come online. The name clears our screen at a score of 72/100 but sits outside the major indices, which may limit liquidity and the number of investors pressing for re-rating.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 19 Oct 2026, 19:04 CEST | Rating | Overvalued | first publication | $50.10 |
| 15 Oct 2026, 00:00 CEST | Fair value | $25.43 | $24.94 | $48.60 |
| 28 Sept 2026, 00:00 CEST | Fair value | $24.94 | $25.48 | $63.16 |
| 24 Sept 2026, 00:00 CEST | ACCE price target | $46.00 | first publication | $45.92 |
| 24 Sept 2026, 00:00 CEST | Fair value | $25.48 | $25.97 | $64.49 |
| 21 Sept 2026, 00:00 CEST | Fair value | $25.97 | $26.30 | $66.59 |
| 12 Sept 2026, 00:00 CEST | Fair value | $26.30 | $26.72 | $66.79 |
| 10 Sept 2026, 00:00 CEST | Fair value | $26.72 | $26.36 | $67.86 |
| 3 Sept 2026, 00:00 CEST | Fair value | $26.36 | $25.95 | $68.09 |
| 29 Aug 2026, 00:00 CEST | Fair value | $25.95 | $26.25 | $67.10 |
Answered from Pembina Pipeline Corp. Ordinary Shares (Canada) fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $50.34 | $26 | 97% above | 24.6x | 10.5% | 73 | 73 |
| PPL.TO Pembina Pipeline | C$69.13 | C$35 | 95% above | 24.8x | 10.5% | 68 | 72 |
| VG Venture Global Inc. Class A common stock | $12.81 | $13 | 1% above | 10.1x | 33.6% | 78 | 79 |
| VNOM Viper Energy Inc. Class A Common Stock | $45.35 | - | - | 2347.0x | 1.1% | 67 | 69 |
| OKE ONEOK Inc. Common Stock | $93.90 | $64 | 46% above | 16.4x | 16.3% | 59 | 74 |
| LNG Cheniere Energy Inc. Common Stock | $287.01 | $197 | 46% above | 22.6x | 39.1% | 71 | 78 |
| TRP.TO TC Energy | C$86.86 | C$42 | 106% above | 24.9x | 11.8% | 71 | 60 |
Where PBA ranks against its sector peers on each metric.