Q3 2017 EPS Estimates for Inter Pipeline Ltd Reduced by Analyst (IPL)
Inter Pipeline Ltd (TSE:IPL) – Stock analysts at Cormark decreased their Q3 2017 earnings per share (EPS) estimates for shares of Inter Pipeline in a note issued to investors on Monday. Cormark analyst B. Watson now forecasts that the company will earn $0.36 per share for the quarter, down from their previous forecast of $0.40. Cormark also issued estimates for Inter Pipeline’s Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.36 EPS and FY2018 earnings at $1.64 EPS.
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IPL has been the topic of several other research reports. Scotiabank decreased their target price on Inter Pipeline from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Monday. Royal Bank Of Canada cut their price target on Inter Pipeline from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James Financial, Inc. cut their price target on Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating on the stock in a report on Monday. National Bank Financial cut their price target on Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating on the stock in a report on Friday, August 11th. Finally, BMO Capital Markets dropped their price objective on Inter Pipeline from C$29.00 to C$27.00 in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Inter Pipeline currently has a consensus rating of “Hold” and a consensus target price of C$29.78.
Shares of Inter Pipeline (IPL) opened at 23.12 on Wednesday. The firm has a 50-day moving average price of $24.77 and a 200-day moving average price of $26.90. The stock has a market cap of $8.76 billion and a price-to-earnings ratio of 17.34. Inter Pipeline has a 1-year low of $23.02 and a 1-year high of $30.07.
The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 15th will be given a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend is Friday, August 18th.
In other Inter Pipeline news, insider Cory Wade Neufeld acquired 2,000 shares of the stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of C$23.54 per share, with a total value of C$47,080.00. Insiders have acquired 6,250 shares of company stock valued at $151,597 in the last three months.
About Inter Pipeline
Inter Pipeline Ltd. engages in the petroleum transportation, natural gas liquids processing, and bulk liquid storage 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.
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