Inter Pipeline Ltd (TSE:IPL) – Equities research analysts at Cormark boosted their Q3 2019 earnings per share (EPS) estimates for Inter Pipeline in a research note issued to investors on Monday, August 12th. Cormark analyst B. Watson now anticipates that the company will earn $0.32 per share for the quarter, up from their previous forecast of $0.30. Cormark also issued estimates for Inter Pipeline’s Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.51 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.33 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.37 EPS and FY2020 earnings at $1.43 EPS.
Several other research firms have also weighed in on IPL. BMO Capital Markets upped their price objective on shares of Inter Pipeline from C$22.00 to C$23.00 in a research note on Friday, August 9th. Raymond James upgraded shares of Inter Pipeline from an “underperform” rating to a “market perform” rating and upped their price objective for the company from C$20.00 to C$25.00 in a research note on Monday. CIBC upgraded shares of Inter Pipeline from a “neutral” rating to an “outperform” rating in a research note on Monday. Industrial Alliance Securities lowered shares of Inter Pipeline from a “strong-buy” rating to a “hold” rating and increased their price target for the stock from C$25.50 to C$26.00 in a research note on Monday. Finally, National Bank Financial increased their price target on shares of Inter Pipeline from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Inter Pipeline has a consensus rating of “Buy” and a consensus target price of C$25.70.
The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 16th will be paid a $0.1425 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.71 dividend on an annualized basis and a yield of 7.03%. Inter Pipeline’s payout ratio is presently 122.30%.
Inter Pipeline Company Profile
Inter Pipeline Ltd. engages in the petroleum transportation and 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.
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