RBC - Outperform rating 11:26 AM EST, 11/08/2021 (MT Newswires) -- RBC Capital Markets on Monday reiterated its outperform rating on the shares of Pembina Pipeline (PPL.TO) after the oil and gas infrastructure and marketing company reported third-quarter results in line with expectations.
"Pembina is well-positioned to directly benefit from strong commodity prices (e.g., frac spreads), while waiting for producers to ramp up drilling programs, which could drive stronger volumes through its integrated midstream footprint and ultimately underpin new long-term contracted infrastructure," the investment bank noted. "Overall, we really like Pembina's assets and their
leverage to WCSB gas/liquids production, although we are mindful of M&A, and with that the potential for a sizable equity issuance, which may be lurking in 2022 (e.g., former Inter Pipeline assets)."