Cormark Weighs in on Inter Pipeline Ltd’s Q1 2018 Earnings (IPL)
Inter Pipeline Ltd (TSE:IPL) – Investment analysts at Cormark reduced their Q1 2018 EPS estimates for Inter Pipeline in a research report issued to clients and investors on Tuesday. Cormark analyst B. Watson now anticipates that the company will earn $0.42 per share for the quarter, down from their previous estimate of $0.44. Cormark also issued estimates for Inter Pipeline’s Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.41 EPS and FY2018 earnings at $1.65 EPS.
Several other analysts have also issued reports on the stock. TD Securities decreased their price target on shares of Inter Pipeline from C$35.00 to C$31.00 and set a “buy” rating on the stock in a research report on Tuesday. Scotiabank decreased their price target on shares of Inter Pipeline from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Canaccord Genuity decreased their price target on shares of Inter Pipeline from C$30.00 to C$28.00 in a research report on Wednesday, February 14th. BMO Capital Markets decreased their price target on shares of Inter Pipeline from C$28.00 to C$25.00 in a research report on Tuesday, February 6th. Finally, National Bank Financial upgraded shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating and set a C$31.00 price target on the stock in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$29.06.
In other Inter Pipeline news, insider David Michael Chappell bought 5,800 shares of the firm’s stock in a transaction dated Monday, January 15th. The shares were acquired at an average cost of C$25.89 per share, for a total transaction of C$150,162.00. Also, Director Alison Taylor Love bought 1,000 shares of the firm’s stock in a transaction dated Monday, January 15th. The shares were acquired at an average price of C$25.93 per share, for a total transaction of C$25,930.00. Over the last quarter, insiders have bought 7,120 shares of company stock worth $184,300.
The firm also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.68 annualized dividend and a dividend yield of 7.47%. Inter Pipeline’s dividend payout ratio (DPR) is currently 115.60%.
Inter Pipeline Company Profile
Inter Pipeline Ltd. is a petroleum transportation, storage and natural gas liquids processing business. The Company’s segments include oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) processing business and bulk liquid storage business. The Company geographical segments include Canada and Europe.
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