Pembina Pipeline Corporation (NYSE:PBA) stock identified change of 17.22% away from 52-week low price and recently located move of -4.38% off 52-week high price. It has market worth of $18.87B and dividend yield of 5.02%. PBA stock has been recorded 2.84% away from 50 day moving average and 1.19% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.12% off 20-day moving average.
On Jan. 7, 2020, Pembina Pipeline Corporation (NYSE:PBA) along with Petrochemical Industries Company K.S.C. (PIC) of Kuwait, is pleased to notified that Canada Kuwait Petrochemical Corporation (CKPC) has executed a lump sum engineering, procurement and construction (EPC) contract related to the construction of the propane dehydrogenation (PDH) facility within its integrated PDH and polypropylene (PP) upgrading facility (PDH/PP Facility). With this contract, CKPC has fixed approximately 60 percent of the cost of the PDH/PP Facility thus far. In conjunction with execution of the lump sum contract, the Company also announces an update to its share of the capital cost for the PDH/PP Facility and project timing.
Following execution of the lump sum EPC contract and with cost certainty for approximately 60 percent of the project cost, Pembina has revised its proportionate share of the capital cost of the PDH/PP Facility, including the 100 percent directly-owned supporting facilities, to $2.7 billion. The increase over the prior estimate is associated with the PDH facility, which is now fixed under the lump sum EPC contract. The revised capital cost estimate will not affect Pembina’s previously announced 2020 capital budget. CKPC now expects the PDH/PP Facility to be placed into commercial service in the second half of 2023.
When faced with the proposition of trading returns for risk, Pembina has consistently chosen certainty and downside protection, particularly in new platforms or new businesses. Our relentless pursuit of a lump sum contract for the PDH facility reflects our disciplined and prudent approach to capital allocation, said Mick Dilger, Pembina’s President and Chief Executive Officer. Mr. Dilger added, This project is highly strategic for Pembina and our producer customers in the Western Canadian Sedimentary Basin. It offers a new demand source for domestically produced propane and supports ongoing development of Canada’s world-class hydrocarbon resources.
The Basic Materials sector company, Pembina Pipeline Corporation noticed change of 0.03% to $36.87 along volume of 830976 shares in Tuesday session compared to an average volume of 843.45K. The stock observed return of 0.19% in 5 days trading activity. The stock was at 6.22% over one month performance. PBA’s shares are at 3.51% for the quarter and driving a 15.73% return over the course of the past year and is now at -0.51% since this point in 2018.
The average volatility for the week at 1.23% and for month was at 1.25%. There are 511.81M shares outstanding and 510.61M shares are floated in market.
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