Pembina Pipeline (PPL) & Tourmaline: 2 TSX oil & gas stocks to watch

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Pembina Pipeline (PPL) & Tourmaline: 2 TSX oil & gas stocks to watch

Pembina Pipeline (PPL) & Tourmaline: 2 TSX oil & gas stocks to watch
Image source: © 2022 Kalkine Media®

Highlights

  • The S&P/TSX Capped Energy Index has gained 26.48 per cent year-to-date (YTD)
  • Pembina’s stock has grown 23.47 per cent in a year and 20.35 per cent YTD
  • Tourmaline’s stock has risen 28.62 per cent YTD

The TSX Composite Index, it may be argued, has weathered the current bearish phase better than a few global indices. The energy sector may have contributed significantly to this.

Currently, the sector accounts for 15.63 per cent of the benchmark index. The S&P/TSX Capped Energy Index has gained 26.48 per cent year-to-date (YTD), while the benchmark index is in the green 1.16 per cent during that period.

The S&P/TSX High Income Energy Index is up 19.41 per cent YTD and in it, Pembina Pipeline Corporation is ranked three by market capitalization and Tourmaline Oil Corp is ranked sixth. Let’s explore these two stocks a bit.

Pembina Pipeline Corporation (TSX:PPL)

Pembina possesses an integrated network of gas pipelines and processing facilities. It has a market cap of C$25 billion.

On Wednesday, March 16, the PPL stock closed at C$45.51. The stock has grown 23.47 per cent in a year and 20.35 per cent YTD. It is currently trading 32.36 per cent higher than its 52-week low of C$34.89 seen on March 25, 2021.

Also read: Fortis (FTS) & Hydro One (H): 2 TSX utility stocks to watch

The PPL stock’s EPS is 1.99 and its P/E ratio is 22.90. The stock pays a monthly dividend of C$0.21 with a dividend yield of 5.537 per cent. Its return on equity is 9.58 per cent.

On March 8, Pembina announced it had received approval to repurchase five per cent of its outstanding common shares.

Tourmaline Oil Corp (TSX:TOU)

Tourmaline is an energy company operating in the Western Canada Sedimentary Basin with a current market cap of C$16 billion. 

Also read First Quantum Minerals (TSX:FM): A Canadian materials stock to watch

The TOU stock closed at C$49.13 Wednesday. It has soared 121.31 per cent in a year and 28.62 per cent YTD. It is trading 136.65 per cent higher than its 52-week low of C$21.58 seen on March 25, 2021.

TOU’s EPS is 6.49, P/E ratio is 7.60 and a return on equity 20.5 per cent. With a quarterly dividend of C$0.20, the scrip has a dividend yield of 1.628 per cent.

Also read: CGI Inc (TSX:GIB.A): A Canadian IT stock to eye

 Pembina Pipeline (PPL) & Tourmaline: 2 TSX oil & gas stocks to watch

Image source: © 2022 Kalkine Media®

Bottom line:

The above two stocks have far outperformed Canada’s benchmark index. They are two dividend-paying TSX stocks with big market caps.

Also read: Dollarama (DOL) & Metro (MRU): 2 TSX consumer stocks in green YTD

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