We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pembina (PBA) Declares $102M Settlement Deal With Ruby Pipeline
Read MoreHide Full Article
Pembina Pipeline (PBA - Free Report) recently announced that along with some of its wholly owned affiliates, it entered into a settlement agreement with Ruby Pipeline LLC, a natural gas pipeline joint venture between PBA and Kinder Morgan (KMI - Free Report) .
Pembina agreed to pay $102 million to settle its liabilities for the Ruby Pipeline. Meanwhile, the gas pipeline firm works to emerge from Chapter 11 bankruptcy protection.
The Chapter 11 plan allows for the potential sale by the auction of Ruby's assets, with a distribution of the value of the Ruby estate to its creditors after the confirmation of the plan. Moreover, if the plan is approved as currently anticipated, PBA and its affiliates will retain all rights to recovery under the 2026 subordinated notes as a creditor.
In March 2022, Ruby filed for Chapter 11 bankruptcy to restructure its long-term in excess of $475 million that became due.
Headquartered in Houston, TX, Kinder Morgan, Inc. is a leading midstream energy infrastructure provider in North America. The company operates pipelines spread across 83,000 miles to transport natural gas, crude oil, condensate, refined petroleum products, CO2 and other products.
Founded in 1954, Pembina Pipeline Corporation is a Canada-based vertically integrated operator of energy infrastructure assets. Headquartered in Calgary, Alberta, the company is active throughout the hydrocarbon value chain, offering a complete range of midstream and marketing solutions. Pembina’s extensive network of conduits covers some of North America’s most prolific basins.
The consensus estimate for Patterson’s 2022 earnings is pegged at 54 cents per share, which implies an increase of about 128% from the year-ago loss of $1.93.
PTEN beat estimates for earnings in three of the trailing four quarters, the average being around 169.2%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.84 per share, which indicates an increase of about 555.8% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward two times over the past 60 days from $4.90 to $7.84 per share.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Pembina (PBA) Declares $102M Settlement Deal With Ruby Pipeline
Pembina Pipeline (PBA - Free Report) recently announced that along with some of its wholly owned affiliates, it entered into a settlement agreement with Ruby Pipeline LLC, a natural gas pipeline joint venture between PBA and Kinder Morgan (KMI - Free Report) .
Pembina agreed to pay $102 million to settle its liabilities for the Ruby Pipeline. Meanwhile, the gas pipeline firm works to emerge from Chapter 11 bankruptcy protection.
The Chapter 11 plan allows for the potential sale by the auction of Ruby's assets, with a distribution of the value of the Ruby estate to its creditors after the confirmation of the plan. Moreover, if the plan is approved as currently anticipated, PBA and its affiliates will retain all rights to recovery under the 2026 subordinated notes as a creditor.
In March 2022, Ruby filed for Chapter 11 bankruptcy to restructure its long-term in excess of $475 million that became due.
Headquartered in Houston, TX, Kinder Morgan, Inc. is a leading midstream energy infrastructure provider in North America. The company operates pipelines spread across 83,000 miles to transport natural gas, crude oil, condensate, refined petroleum products, CO2 and other products.
Founded in 1954, Pembina Pipeline Corporation is a Canada-based vertically integrated operator of energy infrastructure assets. Headquartered in Calgary, Alberta, the company is active throughout the hydrocarbon value chain, offering a complete range of midstream and marketing solutions. Pembina’s extensive network of conduits covers some of North America’s most prolific basins.
Pembina currently has a Zacks Rank #3 (Hold). Investors interested in the energy space might look at some better-ranked stocks — Patterson-UTI (PTEN - Free Report) and Par Pacific (PARR - Free Report) — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for Patterson’s 2022 earnings is pegged at 54 cents per share, which implies an increase of about 128% from the year-ago loss of $1.93.
PTEN beat estimates for earnings in three of the trailing four quarters, the average being around 169.2%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.84 per share, which indicates an increase of about 555.8% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward two times over the past 60 days from $4.90 to $7.84 per share.