Post by
autofocus111 on May 06, 2021 7:52pm
Earnings out
Very subdued. Adjusted EBITDA and OCF basically flat YoY. Losses on hedges put a big damper on the party, as revenue growth looked solid. Not much shift in regards to growth project restarts, but no new writedowns either though. Mention of an opportunistic share buyback. She looks a lot like a deer caught in the headlights right now... not sure whether to run or just stand there and wait for the car to pass. Timing of entry into those hedges took the wind out of their sails until 2022.
https://stockhouse.com/news/press-releases/2021/05/06/pembina-pipeline-corporation-reports-results-for-the-first-quarter-2021-and
Comment by
antonaki1 on May 06, 2021 10:21pm
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Comment by
BlueJay2020 on May 06, 2021 10:58pm
Yeah, we are still trading well below pre-COVID levels. No reason why this can't go up another 10% over the summer.
Comment by
masfortuna on May 07, 2021 4:28am
I like what I see and the "no write downs" is a bonus. I think the next q (or 2) will be also a subdued entity BUT q1 of 2022 looks like a winner. In the meantime I'll take the divy and a 3-5% sp increase until then. Mas
Comment by
pointer on May 10, 2021 12:07pm
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Comment by
autofocus111 on May 10, 2021 12:24pm
pointer Agree. It's only a matter of time. The plastics plant is another story. I hope to see that project restarted.
Comment by
pointer on May 10, 2021 12:35pm
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Comment by
autofocus111 on May 12, 2021 4:52pm
Agree again. But PPL seems very reluctant to take on debt or dilute shares to pay for it, otherwise they'd have done it already. Maybe they should do a merger of equals (all stock transaction). As long as PPL management takes over the helms of the combined company I'd be okay with that.
Comment by
autofocus111 on May 13, 2021 4:27pm
Correction: A PPL-IPL combination would not be a merger of equals PPL has a much higher MC adn EV than IPL. But an all-stock buyout would still be a decent move. Wouldn't take much to beat the BIP offer. Maybe $20-22 per share. I'm certain IPL shareholders would prefer being part of a bigger PPL than losing the compnay to the lousy cash bid by BIP.
Comment by
cyegger on May 14, 2021 10:41am
My preference would be for IPL to stand pat. I see no reason why it can't, but if it has to go I would be happy to consider more PPL exposure at your suggested price range. cyegger
Comment by
mrbb on May 14, 2021 3:56pm
If i remember right i think IPL management see $24 as current IPL valuation. Any mis-pricing of IPL in a IPL-PPL merger deal is ok for me as it will be captured by holding PPL shares. I too favor IPL to proceed as per original plan as the finish line is in sight. Why make compromise while we're so close to victory.
Comment by
masfortuna on May 11, 2021 9:39pm
Yup BUT I think it's already baked into the sp at this point. mas