Lowering Inter Pipeline Fair Value Estimate on Lower NGL Expectations
After incorporating the impact of Inter Pipeline’s fourth-quarter earnings into our model, we are lowering our fair value estimate to CAD 22 per share from our previous estimate of CAD 26 per share. Lower-than-expected contributions from the company’s newly acquired off-gas business are the main driver for the decline in our fair value estimate. We don't expect the off-gas infrastructure to reach its throughput capacity for at least five years, representing a longer ramp-up period than we previo...Inter Pipeline is engaged in the business of of petroleum transportation, bulk liquid storage and natural gas liquids (NGL) extraction through the ownership and operation of energy infrastructure assets in western Canada, the U.K., Denmark, Germany, Ireland and Sweden. Co. has four operating business segments that are reportable segments: the oil sands transportation business segment; the conventional oil pipelines business segment; the bulk liquid storage business segment; and the NGL extraction business segment.
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