Inter Pipeline (TSE:IPL) – Equities researchers at Cormark cut their FY2018 earnings per share estimates for Inter Pipeline in a report issued on Tuesday, April 24th. Cormark analyst B. Watson now anticipates that the company will post earnings of $1.64 per share for the year, down from their prior estimate of $1.65.
Inter Pipeline (TSE:IPL) last posted its earnings results on Thursday, February 15th. The company reported C$0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.41 by C($0.04). The firm had revenue of C$618.30 million during the quarter, compared to analyst estimates of C$567.57 million. Inter Pipeline had a net margin of 22.95% and a return on equity of 16.63%.
Several other research firms have also weighed in on IPL. National Bank Financial raised Inter Pipeline from a “sector perform” rating to an “outperform” rating and set a C$31.00 target price on the stock in a report on Monday, January 29th. Raymond James lowered Inter Pipeline from a “market perform” rating to an “underperform” rating and lowered their target price for the company from C$26.00 to C$24.00 in a report on Tuesday. Canaccord Genuity lowered their target price on Inter Pipeline from C$30.00 to C$28.00 in a report on Wednesday, February 14th. Scotiabank lowered their target price on Inter Pipeline from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 20th. Finally, TD Securities lowered their target price on Inter Pipeline from C$35.00 to C$31.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Inter Pipeline presently has an average rating of “Hold” and a consensus target price of C$28.61.
Inter Pipeline stock opened at C$23.19 on Wednesday. Inter Pipeline has a fifty-two week low of C$21.36 and a fifty-two week high of C$28.89.
In related news, Director Margaret Anne Mckenzie acquired 1,700 shares of Inter Pipeline stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of C$22.65 per share, for a total transaction of C$38,505.00. Also, insider Cory Wade Neufeld acquired 3,000 shares of Inter Pipeline stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of C$22.50 per share, for a total transaction of C$67,500.00. Insiders bought 11,600 shares of company stock worth $259,550 over the last 90 days.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 23rd will be given a $0.14 dividend. The ex-dividend date is Friday, April 20th. This represents a $1.68 annualized dividend and a dividend yield of 7.24%.
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Inter Pipeline Company Profile
Inter Pipeline Ltd. engages in the petroleum transportation, storage, and natural gas liquids processing businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation; Conventional Oil Pipelines; Natural Gas Liquids (NGL) Processing; and Bulk Liquid Storage. The Oil Sands Transportation segment transports petroleum products, such as bitumen blend and diluent through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity.
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