We are downgrading Inter Pipeline after the most recent price appreciation (+20% YTD) as our estimated 12-month total return is now only 9%.
Our outlook for Inter Pipeline’s financials and capex is unchanged. In 2015, IPL could have paid its dividend with the FFO from its oil sands
transportation plus about 40% of the FFO from its conventional oil pipelines business. FFO from bulk liquids storage and NGL extraction remains available for reinvestment back into the business. Valuation: we use a ....
02 Jun 2016
Downgrading Inter Pipeline On Price Appreciation, Financial Outlook Unchanged
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Downgrading Inter Pipeline On Price Appreciation, Financial Outlook Unchanged
- Published:
02 Jun 2016 -
Author:
Steven I. Paget -
Pages:
3
We are downgrading Inter Pipeline after the most recent price appreciation (+20% YTD) as our estimated 12-month total return is now only 9%.
Our outlook for Inter Pipeline’s financials and capex is unchanged. In 2015, IPL could have paid its dividend with the FFO from its oil sands
transportation plus about 40% of the FFO from its conventional oil pipelines business. FFO from bulk liquids storage and NGL extraction remains available for reinvestment back into the business. Valuation: we use a ....