Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Inter Pipeline

TSX:IPL
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPL
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids processing businesses in Canada and Europe. The last earnings update was 37 days ago. More info.


Add to Portfolio Compare Print
  • Inter Pipeline has significant price volatility in the past 3 months.
IPL Share Price and Events
7 Day Returns
9%
TSX:IPL
15.2%
CA Oil and Gas
11.4%
CA Market
1 Year Returns
-61.7%
TSX:IPL
-41.5%
CA Oil and Gas
-22%
CA Market
IPL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Inter Pipeline (IPL) 9% -57.9% -62.5% -61.7% -69.8% -73.2%
CA Oil and Gas 15.2% -37.6% -42.4% -41.5% -49.8% -53.6%
CA Market 11.4% -22.2% -23.5% -22% -19.8% -13.3%
1 Year Return vs Industry and Market
  • IPL underperformed the Oil and Gas industry which returned -41.5% over the past year.
  • IPL underperformed the Market in Canada which returned -22% over the past year.
Price Volatility
IPL
Industry
5yr Volatility vs Market

IPL Value

 Is Inter Pipeline undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Inter Pipeline to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Inter Pipeline.

TSX:IPL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in CAD CA$ 1.6956060606061
Payout Ratio Company Filings (2019-12-31) 5901%
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:IPL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (191.47%))
1.216
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.216 * 5.44%)
8.05%

Discounted Cash Flow Calculation for TSX:IPL using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Inter Pipeline is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

TSX:IPL Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= CA$1.7 / (8.05% - 1.44%)
CA$25.63
TSX:IPL Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$25.63
Current discount Discount to share price of CA$8.46
= -1 x (CA$8.46 - CA$25.63) / CA$25.63
67%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Inter Pipeline is available for.
Intrinsic value
>50%
Share price is CA$8.46 vs Future cash flow value of CA$25.63
Current Discount Checks
For Inter Pipeline to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Inter Pipeline's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Inter Pipeline's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Inter Pipeline's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Inter Pipeline's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:IPL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.31
TSX:IPL Share Price ** TSX (2020-03-27) in CAD CA$8.46
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 499 Publicly-Listed Companies 10.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Inter Pipeline.

TSX:IPL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:IPL Share Price ÷ EPS (both in CAD)

= 8.46 ÷ 1.31

6.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Inter Pipeline is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • Inter Pipeline is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Inter Pipeline's expected growth come at a high price?
Raw Data
TSX:IPL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-17.4%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

TSX:IPL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.47x ÷ -17.4%

-0.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Inter Pipeline earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Inter Pipeline's assets?
Raw Data
TSX:IPL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$9.72
TSX:IPL Share Price * TSX (2020-03-27) in CAD CA$8.46
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.38x
Canada Market PB Ratio Median Figure of 2,352 Publicly-Listed Companies 1x
TSX:IPL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:IPL Share Price ÷ Book Value per Share (both in CAD)

= 8.46 ÷ 9.72

0.87x

* Primary Listing of Inter Pipeline.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Inter Pipeline is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Inter Pipeline's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Inter Pipeline has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IPL Future Performance

 How is Inter Pipeline expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-17.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Inter Pipeline expected to grow at an attractive rate?
  • Inter Pipeline's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Inter Pipeline's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Inter Pipeline's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:IPL Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:IPL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -17.4%
TSX:IPL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 7.8%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:IPL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:IPL Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 3,592 1
2023-12-31 3,506 1
2022-12-31 3,231 1,167 2
2021-12-31 2,504 807 366 6
2020-12-31 2,447 809 361 6
2020-03-28
TSX:IPL Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,535 841 539
2019-09-30 2,522 885 583
2019-06-30 2,616 940 672
2019-03-31 2,606 994 548
2018-12-31 2,593 1,078 593
2018-09-30 2,580 1,125 590
2018-06-30 2,443 1,097 563
2018-03-31 2,328 1,050 529
2017-12-31 2,261 1,028 527
2017-09-30 2,203 925 511
2017-06-30 2,090 893 482
2017-03-31 1,987 874 494

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Inter Pipeline's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Inter Pipeline's revenue is expected to grow by 7.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:IPL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Inter Pipeline Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:IPL Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 0.82 1.07 0.30 9.00
2020-12-31 0.84 1.00 0.62 9.00
2020-03-28
TSX:IPL Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 1.31
2019-09-30 1.43
2019-06-30 1.68
2019-03-31 1.39
2018-12-31 1.53
2018-09-30 1.54
2018-06-30 1.48
2018-03-31 1.41
2017-12-31 1.41
2017-09-30 1.38
2017-06-30 1.34
2017-03-31 1.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Inter Pipeline is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Inter Pipeline's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Inter Pipeline has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IPL Past Performance

  How has Inter Pipeline performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Inter Pipeline's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Inter Pipeline's year on year earnings growth rate has been positive over the past 5 years.
  • Inter Pipeline's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Inter Pipeline's 1-year earnings growth is negative, it can't be compared to the CA Oil and Gas industry average.
Earnings and Revenue History
Inter Pipeline's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Inter Pipeline Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:IPL Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,535.30 539.00 173.90
2019-09-30 2,522.20 582.80 162.30
2019-06-30 2,616.40 672.30 150.20
2019-03-31 2,605.80 548.10 149.40
2018-12-31 2,592.90 592.50 137.60
2018-09-30 2,580.30 590.10 142.60
2018-06-30 2,442.90 563.20 135.90
2018-03-31 2,327.90 529.40 130.10
2017-12-31 2,260.60 526.70 129.80
2017-09-30 2,203.00 510.60 130.90
2017-06-30 2,089.90 481.80 132.50
2017-03-31 1,986.90 493.90 125.00
2016-12-31 1,824.60 449.70 122.00
2016-09-30 1,719.60 453.60 106.70
2016-06-30 1,709.30 458.60 91.30
2016-03-31 1,686.90 409.50 87.20
2015-12-31 1,676.30 427.40 76.20
2015-09-30 1,610.71 373.31 75.38
2015-06-30 1,566.14 346.00 79.61
2015-03-31 1,551.36 362.38 79.88
2014-12-31 1,556.30 334.80 85.90
2014-09-30 1,540.40 340.48 92.31
2014-06-30 1,501.32 323.93 91.81
2014-03-31 1,445.77 -41.62 90.03
2013-12-31 1,362.71 -58.10 85.04
2013-09-30 1,312.20 -82.17 81.63
2013-06-30 1,272.38 -91.08 80.97
2013-03-31 1,231.98 297.17 79.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Inter Pipeline has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Inter Pipeline used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Inter Pipeline's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Inter Pipeline's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Inter Pipeline has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IPL Health

 How is Inter Pipeline's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Inter Pipeline's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Inter Pipeline's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Inter Pipeline's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Inter Pipeline's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Inter Pipeline Company Filings, last reported 2 months ago.

TSX:IPL Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 4,089.30 6,637.00 32.60
2019-09-30 4,040.10 6,226.90 44.00
2019-06-30 4,080.40 6,030.60 45.50
2019-03-31 3,940.50 5,831.90 32.90
2018-12-31 3,965.30 5,659.40 46.20
2018-09-30 3,660.40 5,320.70 23.50
2018-06-30 3,592.40 5,367.30 24.30
2018-03-31 3,576.00 5,375.20 23.30
2017-12-31 3,463.80 5,435.50 26.90
2017-09-30 3,381.00 5,568.30 27.50
2017-06-30 3,320.40 5,641.40 24.30
2017-03-31 3,261.40 5,710.70 27.10
2016-12-31 3,187.90 5,806.30 21.40
2016-09-30 3,603.50 5,577.40 70.40
2016-06-30 3,026.40 4,815.30 40.20
2016-03-31 3,088.00 4,832.10 27.50
2015-12-31 3,156.60 4,832.70 40.30
2015-09-30 3,142.39 4,857.36 58.87
2015-06-30 3,069.48 4,844.74 73.08
2015-03-31 3,073.71 4,660.44 62.95
2014-12-31 2,874.60 4,571.50 61.50
2014-09-30 2,884.94 4,377.04 60.68
2014-06-30 2,825.61 4,263.75 103.99
2014-03-31 2,786.76 4,138.79 230.13
2013-12-31 2,384.27 3,943.03 47.24
2013-09-30 1,762.23 3,947.84 49.14
2013-06-30 1,511.98 3,561.67 48.16
2013-03-31 1,783.43 3,231.58 41.35
  • Inter Pipeline's level of debt (162.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (158.9% vs 162.3% today).
  • Debt is not well covered by operating cash flow (12.7%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Inter Pipeline's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Inter Pipeline has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IPL Dividends

 What is Inter Pipeline's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
20.21%
Current annual income from Inter Pipeline dividends. Estimated to be 20.04% next year.
If you bought CA$2,000 of Inter Pipeline shares you are expected to receive CA$404 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Inter Pipeline's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.7%).
  • Inter Pipeline's dividend is above the markets top 25% of dividend payers in Canada (8.48%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:IPL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:IPL Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 2.04 1.00
2022-12-31 1.80 2.00
2021-12-31 1.67 15.00
2020-12-31 1.69 15.00
2020-03-28
TSX:IPL Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-09 1.710 19.044
2020-02-10 1.710 8.423
2020-01-09 1.710 7.729
2019-12-09 1.710 7.614
2019-11-07 1.710 7.776
2019-10-02 1.710 7.687
2019-09-09 1.710 7.081
2019-08-08 1.710 6.980
2019-07-09 1.710 7.646
2019-06-10 1.710 8.312
2019-05-09 1.710 8.267
2019-04-09 1.710 7.817
2019-03-11 1.710 7.793
2019-02-14 1.710 7.986
2019-01-09 1.710 8.120
2018-12-10 1.710 8.615
2018-11-08 1.710 7.787
2018-10-03 1.680 7.621
2018-09-10 1.680 7.311
2018-08-09 1.680 6.915
2018-07-09 1.680 6.784
2018-06-11 1.680 6.779
2018-05-07 1.680 6.946
2018-04-09 1.680 7.147
2018-03-09 1.680 7.506
2018-02-09 1.680 7.460
2017-12-11 1.680 6.655
2017-11-09 1.680 6.248
2017-10-02 1.620 6.209
2017-09-11 1.620 6.735
2017-08-10 1.620 7.071
2017-07-10 1.620 6.534
2017-06-09 1.620 6.390
2017-05-08 1.620 6.032
2017-04-10 1.620 5.762
2017-03-09 1.620 5.780
2017-02-09 1.620 5.690
2017-01-09 1.620 5.640
2016-12-09 1.620 5.497
2016-11-03 1.620 5.935
2016-10-05 1.560 5.584
2016-09-08 1.560 5.662
2016-08-04 1.560 5.587
2016-07-07 1.560 5.697
2016-06-09 1.560 5.757
2016-05-09 1.560 5.851
2016-04-11 1.560 5.917
2016-03-09 1.560 6.044
2016-02-09 1.560 6.681
2016-01-11 1.560 7.330
2015-12-08 1.560 7.251
2015-11-05 1.560 6.717
2015-10-08 1.470 5.800
2015-09-08 1.470 5.797
2015-08-06 1.470 5.409
2015-07-08 1.470 5.349
2015-06-09 1.470 4.992
2015-05-11 1.470 4.787
2015-04-09 1.470 4.710
2015-03-10 1.470 4.658
2015-02-10 1.470 4.424
2015-01-08 1.470 4.532
2014-12-09 1.470 4.597
2014-11-06 1.470 4.347
2014-10-08 1.290 3.727
2014-09-10 1.290 3.535
2014-08-08 1.290 3.562
2014-07-09 1.290 3.843
2014-06-10 1.290 3.932
2014-05-06 1.290 4.141
2014-04-08 1.290 4.404
2014-03-06 1.290 4.440
2014-02-06 1.290 4.459
2014-01-09 1.290 4.829
2013-12-05 1.290 5.087
2013-11-07 1.290 5.052
2013-10-08 1.290 5.009
2013-09-09 1.290 5.113
2013-08-08 1.140 4.752
2013-07-04 1.140 4.988
2013-06-03 1.140 4.938
2013-05-09 1.110 4.625
2013-04-04 1.110 4.613
2013-03-06 1.110 4.668
2013-02-06 1.110 4.838
2013-01-03 1.110 4.763
2012-11-08 1.110 4.840
2012-10-04 1.050 4.754
2012-09-06 1.050 4.898
2012-08-02 1.050 4.947
2012-07-05 1.050 5.356
2012-06-06 1.050 5.508
2012-05-03 1.050 5.378
2012-04-05 1.050 5.371
2012-03-06 1.050 5.395
2012-02-07 1.050 5.523
2012-01-09 1.050 5.794
2011-11-03 1.050 5.723
2011-10-04 0.960 5.789
2011-09-07 0.960 6.030
2011-08-04 0.960 6.087
2011-07-06 0.960 6.055
2011-06-07 0.960 6.155
2011-05-05 0.960 5.916
2011-04-06 0.960 6.147
2011-03-08 0.960 6.263
2011-02-08 0.960 6.409
2011-01-10 0.960 6.321
2010-11-04 0.960 6.454
2010-10-07 0.900 6.656
2010-09-08 0.900 6.824
2010-08-05 0.900 6.864
2010-07-07 0.900 7.219
2010-06-08 0.900 7.569
2010-05-06 0.900 7.946
2010-04-08 0.900 7.632
2010-03-10 0.900 7.587
2010-02-04 0.900 7.711
2009-10-21 0.900 8.347
2009-10-07 0.840 8.424
2009-09-08 0.840 8.849
2009-08-06 0.840 8.975
2009-07-07 0.840 9.208
2009-06-04 0.840 9.661
2009-05-07 0.840 10.032
2009-04-08 0.840 10.829

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Inter Pipeline's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Inter Pipeline's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Inter Pipeline afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Inter Pipeline has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IPL Management

 What is the CEO of Inter Pipeline's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Bayle
COMPENSATION CA$3,934,566
AGE 50
TENURE AS CEO 6.2 years
CEO Bio

Mr. Christian P. Bayle, also known as Chris, is Chief Executive Officer and President of Inter Pipeline Ltd. since January 1, 2014. He has been Director of Inter Pipeline Ltd. since January 1, 2017. Mr. Bayle served as the Chief Operating Officer of Pipeline Management Inc., General Partner of Inter Pipeline Ltd., from March 1, 2011 to January 1, 2014. He served as a Senior Vice President of Corporate Development at Inter Pipeline Ltd., (formerly known as Inter Pipeline Fund) from December 1, 2008 to March 01, 2011. Mr. Bayle served as Vice President of Operations at Pipeline Management Inc., in January 2002, General Partner of Inter Pipeline Ltd., (formerly known as Inter Pipeline Fund). He served as Vice President of Corporate Development of Inter Pipeline Ltd. from March 2005 to December 2008. Prior to this, he held various engineering positions within Sherritt International Corporation. He has held a number of positions of increasing responsibility. He holds a Professional Engineering Designation and is a Member of APEGA. He received a Bachelor of Mechanical Engineering from the University of Alberta in 1992 and a Masters in Engineering Management from the same university in 1993.

CEO Compensation
  • Chris's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Chris's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Inter Pipeline management team in years:

4.2
Average Tenure
  • The tenure for the Inter Pipeline management team is about average.
Management Team

Chris Bayle

TITLE
President
COMPENSATION
CA$4M
AGE
50
TENURE
6.2 yrs

Brent Heagy

TITLE
Chief Financial Officer
COMPENSATION
CA$2M
TENURE
6 yrs

Bernard Perron

TITLE
Senior Vice President of Projects & Operations Services
COMPENSATION
CA$1M
TENURE
1.9 yrs

Jeffrey Marchant

TITLE
Senior Vice President of Transportation
COMPENSATION
CA$1M
TENURE
5.8 yrs

James Madro

TITLE
Senior Vice President of NGL Processing
COMPENSATION
CA$1M
TENURE
1.9 yrs

Richard Sawyer

TITLE
VP of EH&S and Technical Services

Jeremy Roberge

TITLE
VP of Finance & Investor Relations
TENURE
1.9 yrs

Anita Elizabeth Oliva

TITLE
Vice President of Legal
TENURE
4.2 yrs

Jim Arsenych

TITLE
Chief Compliance Officer
COMPENSATION
CA$935K
TENURE
4.2 yrs

Breanne Oliver

TITLE
Director of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Inter Pipeline board of directors in years:

5.4
Average Tenure
63.5
Average Age
  • The tenure for the Inter Pipeline board of directors is about average.
Board of Directors

Richard Shaw

TITLE
Independent Chairman of the Board
COMPENSATION
CA$329K
AGE
73
TENURE
6.2 yrs

Chris Bayle

TITLE
President
COMPENSATION
CA$4M
AGE
50
TENURE
3.2 yrs

Duane Keinick

TITLE
Independent Director
COMPENSATION
CA$218K
AGE
72
TENURE
12.1 yrs

Alison Love

TITLE
Independent Director
COMPENSATION
CA$216K
AGE
65
TENURE
6.2 yrs

Margaret McKenzie

TITLE
Independent Director
COMPENSATION
CA$209K
AGE
57
TENURE
4.6 yrs

Bill Robertson

TITLE
Independent Director
COMPENSATION
CA$225K
AGE
74
TENURE
16.8 yrs

Brant Sangster

TITLE
Independent Director
COMPENSATION
CA$213K
AGE
72
TENURE
11 yrs

Pete Cella

TITLE
Independent Director
COMPENSATION
CA$131K
AGE
61
TENURE
1.8 yrs

Julie Dill

TITLE
Independent Director
COMPENSATION
CA$132K
AGE
59
TENURE
1.8 yrs

Art Korpach

TITLE
Independent Director
COMPENSATION
CA$132K
AGE
62
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. May 19 Buy Jeremy Roberge Individual 14. May 19 14. May 19 3,600 CA$20.82 CA$74,952
X
Management checks
We assess Inter Pipeline's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Inter Pipeline has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IPL News

Simply Wall St News

Does Inter Pipeline (TSE:IPL) Deserve A Spot On Your Watchlist?

It's good to see Inter Pipeline insiders walking the walk, by spending CA$971k on shares in just twelve months. … On top of the insider buying, it's good to see that Inter Pipeline insiders have a valuable investment in the business. … While insiders already own a significant amount of shares, and they have been buying more, the good news for ordinary shareholders does not stop there.

Simply Wall St -

What Does Inter Pipeline Ltd.'s (TSE:IPL) P/E Ratio Tell You?

We'll apply a basic P/E ratio analysis to Inter Pipeline Ltd.'s (TSE:IPL), to help you decide if the stock is worth further research. … Check out our latest analysis for Inter Pipeline How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Inter Pipeline: P/E of 16.11 = CA$22.39 ÷ CA$1.39 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Read This Before Selling Inter Pipeline Ltd. (TSE:IPL) Shares

So we'll take a look at whether insiders have been buying or selling shares in Inter Pipeline Ltd. … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' See our latest analysis for Inter Pipeline Inter Pipeline Insider Transactions Over The Last Year In the last twelve months, the biggest single purchase by an insider was when President Christian Bayle bought CA$482k worth of shares at a price of CA$19.29 per share. … TSX:IPL Recent Insider Trading, July 1st 2019 Insiders at Inter Pipeline Have Bought Stock Recently Over the last quarter, Inter Pipeline insiders have spent a meaningful amount on shares.

Simply Wall St -

Is Inter Pipeline Ltd. (TSE:IPL) A Smart Choice For Dividend Investors?

With Inter Pipeline yielding 8.4% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Some simple analysis can reduce the risk of holding Inter Pipeline for its dividend, and we'll focus on the most important aspects below. … Inter Pipeline has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments.

Simply Wall St -

Should You Be Impressed By Inter Pipeline Ltd.'s (TSE:IPL) ROE?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Inter Pipeline: 14% = CA$548m ÷ CA$3.9b (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Inter Pipeline Have A Good Return On Equity? … Inter Pipeline's Debt And Its 14% ROE It's worth noting the significant use of debt by Inter Pipeline, leading to its debt to equity ratio of 1.54.

Simply Wall St -

Did You Manage To Avoid Inter Pipeline's (TSE:IPL) 34% Share Price Drop?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Other metrics may better explain the share price move. … While it's not completely obvious why the share price is down, a closer look at the company's history might help explain it.

Simply Wall St -

What Can We Make Of Inter Pipeline Ltd.’s (TSE:IPL) High Return On Capital?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Inter Pipeline: 0.10 = CA$976m ÷ (CA$11b - CA$1.8b) (Based on the trailing twelve months to December 2018.) Therefore, Inter Pipeline has an ROCE of 10%. … How Inter Pipeline's Current Liabilities Impact Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

What Kind Of Shareholders Own Inter Pipeline Ltd. (TSE:IPL)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Read This Before Considering Inter Pipeline Ltd. (TSE:IPL) For Its Upcoming CA$0.14 Dividend

(TSE:IPL): The dividend payment of CA$0.14 per share will be distributed to shareholders on 15 May 2019, and the stock will begin trading ex-dividend at an earlier date, 22 April 2019. … Below, I will explain how holding Inter Pipeline can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

Do You Like Inter Pipeline Ltd. (TSE:IPL) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll apply a basic P/E ratio analysis to Inter Pipeline Ltd.'s (TSE:IPL), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

IPL Company Info

Description

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. 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. This segment also offers related blending and handling services. The Conventional Oil Pipelines segment is involved in the transportation of petroleum products, including crude oil through Bow River, Central Alberta, and Mid-Saskatchewan pipeline systems covering approximately 3,900 kilometers of pipeline and 1,375,000 barrels of storage capacity; and related blending, handling, and marketing activities. The NGL Processing segment processes pipeline natural gas to remove NGL, including ethane, propane, butane, and pentanes-plus; and fractionates NGL stream to produce ethane products and propane plus. These NGLs are used as energy products; and as a feedstock for the petrochemical and crude oil refining industries. The Bulk Liquid Storage segment stores and handles bulk liquid products. This segment operates 23 bulk liquid storage terminals and approximately 37 million barrels of storage capacity. Inter Pipeline Ltd. was founded in 1997 and is headquartered in Calgary, Canada.

Details
Name: Inter Pipeline Ltd.
IPL
Exchange: TSX
Founded: 1997
CA$3,583,296,145
423,557,464
Website: http://www.interpipeline.com
Address: Inter Pipeline Ltd.
215 – 2nd Street SW,
Suite 3200,
Calgary,
Alberta, T2P 1M4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX IPL Common Shares The Toronto Stock Exchange CA CAD 27. Nov 1998
OTCPK IPPL.F Common Shares Pink Sheets LLC US USD 27. Nov 1998
DB 2IP Common Shares Deutsche Boerse AG DE EUR 27. Nov 1998
Number of employees
Current staff
Staff numbers
1,656
Inter Pipeline employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 03:05
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.