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Inter Pipeline Ltd. (IPL.TO)
Toronto - Toronto Real Time Price. Currency in CAD
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Listen, I own BIP. They recycle capital, the best in the business. What this means is that they don't want to buy to own it into the future, they want to finish heartland, find some efficiencies and cost reductions, and sell for a profit. Alternatively, the PPL offer is about a long-term partnership and building one of the largest and most profitable energy companies in the region, with significant cost reductions and improvements to EBITDA margins and FCF. The 4% increase to PPL's offer is LAUGHABLE and any sensible shareholder would want the PPL deal.
Here is a point I would like to share. This offer by Brookfield was a timed response to the cancellation of the Keystone XL. now that its offline the importance of the network interpipeline has increased significantly. Brookfield is seeing value in the fact that the US is in a position where they cannot increase production quickly and interpipeline has infrastructure to allow for higher transport via alternate methods using rail. they are jumping in before market sees the value.
In 2017 heartland didnt exist, oil was priced similar to what it is today (50-60) and IPL had a price of about 25$. So pipeline only 25$. Heartland was approved in late 2017. Today heartland is built, commissioning is scheduled for August. Recognizing the multi-billion $ petrochemical plant didnt make the company worth less, which is what BIPs offer suggests, last year IPL received an offer for $30. BIP is trying to take your money. At 16$ your selling them the pipeline at a discount and giving heartland away for free. over the next 6 months this project is going to significantly gain. Dont give your money away to BIP. Vote No to 16.50$
For those who do not already know: The Alberta government says it's prepared to give billions of dollars to lure investors willing to build or expand petrochemical facilities in the province, part of what it says is a push to be a top global player in the field.
In a news release introducing the new Alberta Petrochemicals Incentive Program, the government says it hopes to grow the sector by more than $30 billion by 2030 and compete with jurisdictions across Asia, the Middle East and the U.S. areas of the Gulf of Mexico.
"On top of our existing petrochemical producers and all the companies that feed in and support them, we have a multi-generational supply of natural gas, an experienced workforce, and one of the lowest tax rates in North America," said Dale Nally, the associate minister of natural gas and electricity, in the news release.
"By launching this program, Alberta moves towards achieving the goal of becoming one of the most attractive investment opportunities for petrochemicals in the world."
The program would offer grants of up to 12 per cent of eligible capital costs for new projects in the province. That money will be offered only in the final stages of construction in order to ensure projects are already built.
Alberta petrochemical project cost rises to $4.9B
UPDATEDProvincial government envisions Alberta as major gas exporter, hydrogen energy hub
The minimum investment required to be eligible is $50 million, with no upper limit, and the project must consume natural gas, natural gas liquids or petrochemical "intermediaries," and create new and permanent jobs in the province.
The window for applications on projects between $50 million and $150 million will be open for five years, and 10 years for projects over that threshold.
Hydrogen facilities will be eligible for the grants and there is no cap on the number of projects.
"Alberta has the potential to become a major player in low-carbon hydrogen and sustainable plastics production, but we'll only get there if we have a competitive edge over other jurisdictions," said Doug Schweitzer, the minister of jobs, economy and innovation, in the news release.
The government estimates it could create over 90,000 direct and indirect jobs and bring in $10 billion for the government if it hits the target of growing the sector by $30 billion.
On Friday, the Globe and Mail reported that the province was in talks with a private firm from Saudi Arabia to build a $5-billion petrochemical facility in Alberta.
Alberta's petrochemical sector stirs interest south of the border
Why companies are looking to Alberta to produce plastic
"From Day 1, we have said that we are going to seek out international investors to create jobs in Alberta. We are pleased to see that interest has been expressed by a number of global companies from different regions," said Jennifer Henshaw, a spokesperson for Nally, in response to questions about the Globe article.
"We hope to have more to say in the months to come but cannot comment any further at this time due to confidentiality and commercial sensitivities
If you are just buying in now WOW are you going to do well, not just on dividend but share price as well. Dust will settle and IPL can hit $10 real fast...The dividend for April is in the books, and if consideration for dividend change is being discussed, it will not happen overnight. Many longs here are still at 6-9% yield which is a big part of their retirement income. They would really need to be careful with the dividend so as not to force the longs out...I'm holding and buying more at anything under $10.
I have 420 shares at 10.15 from back in April in a TFSA acc. I’m not sure if I should sell or not, I’m 21 and this is one of my bigger holdings (in terms of percentage in 1 stock). Should I hold through earnings? I am in no rush but unsure
For all of you who doubt IPL, just think why other companies want to buy it so much. You all know that IPL received an offer of $30 per share in 2019 from Hong Kong billionaire, but the management rejected because they believe in the company and the Hartland project. Then Brookfield came with the offer of $17.00 to $18.25 per share last September, but again the management rejected the offer because they believe in the company …so now Brookfield is trying a hostile takeover for $16.50 per share.
So ask yourself why they want to buy IPL so badly... It's because they see great value... Pembina had a strategic partner and they stopped their project, but IPL never, they have continued during challenging times and without a strategic partner, this is what I call very brave and I don’t have any doubt in the management because the management knows the true value of IPL. Once Hartland is operational, we will see an easy $30+ so why settle for $16.50? If I don’t believe in the company, I would sell for $18.40 today and take my profit, but I won’t because there is a lot more upside for IPL, and in the coming months there will be more buyout offers.
you guys realize that over 15 000 000 short shares will need to be covered???-How high do you think stock will lift after counter....24? 27??... Go look at cbb history when brookfield bought them last year....GITA...Not selling. great position!!! Collect dividend while negociations last and price rises... This will attract other sharks, other offers!!!!
Be Strong. I am working on HPC project. IPL management is very strong and trying to finish the construction in June and start commissioning in August. good profit once it is starting its production.
I am a bit confused by the optimism. around August 2019 IPL was considering an offer for $30 a share. Then, oil was at a similar price point, heartland much greater risk due to earlier development stage. in 2020 IPL slashed dividend costing investors, to push heartland through, while pembina cancelled their project returning cash to the company and investors. So today heartland is built! the risk much lower ...so the mgt team then sells the company for a 66% of its value a year ago. The only thing good about this deal is a hope for end to this management team. I'm disgusted with it...Debt is highest right now, and project risk is the lowest. The asset is just about to start turning a profit. This is literally the weakest spot in the project for the company...and they decide to sell. It almost feels corrupt.
Inter Pipeline generated solid financial results in 2019, with funds from operations of $872.9 million. Full year 2019 FFO was 20 percent lower than the record $1,088.7 million of FFO generated in 2018. This decrease was primarily driven by lower results in our NGL processing business
The drop of 20% in FFO sounds alarming but its all in one part of the business. The rest of the company is functioning just fine.
Considering the challenging enviroment of the energy sector i think ipl is performing quite alright. The largest growth was shown in the bulk liquid storage segment of ipl albeit the smallest part of ipl its still good considering that the bulk storage is considered as part of a possible sale. this will only drive up the sale price. Div payout ratio is went from 60% to 80% is a little concerning but quite manageable.
I will be adding more to my position. If the stock is down it will be an added long term bonus of a sustainable 8% div.
Inter Pipeline Excec, BOD and Management are very smart people.
They know IPPLF is worth, so much more than the Brookfield offer.
Inter Pipeline to receive $408 mil (Cad) grant for petrochemical complex
Very good report from IPL after close. Clearly this is a $25+ per share company based on those strong results and the new facility coming online in 2022. I will be adding to my position and declining any sub-$28 offer to buy my shares.
IPL is using a well proven technology with Honeywell UOP, Oleflex process. They are building in an area with multiple plants in the petrochemical industry, so there is a lot of experienced vendor support. Yes, there may be some start-up pains. They may have stretched their finances a bit with the project, but the dividend cut has shored that up, a necessary pain when funding dried up in my opinion. Now that we are through most of the uncertainty of this pandemic, and people are using plastics like never before, I think the worst is in the rear view mirror. Whether they get a partner or not they will find a way to make it work.
I made this comment under someone conversation but I'd like to stick it here so more see it and can provide their input... My thoughts are that Pembina is offering to become a Pembina shareholder and provides a great monthly dividend (.22/share a month if we sign; currently at .21). I actually think it's the best deal and am not torn up about it. Yes, it may be slightly undervalued but thinking of what can be gained with a better company and management team, effectively we will get what we are worth just under Pembina's name. Pembina was trading at $50 a share before COVID struck and that was during an oil downturn. I'm voting yes for Pembina!
Again, 30$ offer a year ago with similar oil prices and heartland commissioning is starting in Aug so significant risk removed. why on earth would you agree to sell for half at $16.
In 2017 IPL was 27$/share they only had their pipeline business and oil was priced about the same as it is today. In 2018, IPL stock price beginning to slide withthe early construciton of heartland. In August 2019, an over 30$/share offer ( recognizing some value for the work completed on heartland in addition to the pipeline) was rejected by IPLmanagement. in 2020 the pandemic correction resulted in shareholders losing their dividends to pay for heartland while other companies (eg Pem) cancelled efforts to construct petrochemical plants and returned money to the company and maintained high dividends to shareholders. Today, the company has debt which makes the company apprear weak but the asset is just about to start geerating profit. So the project risk is way down...this is probabaly the worst time to sell the company...So what does IPL management do? They sell the company for lower than what it was worth without heartland!! (less than the 27$ IPL was worth with just the pipeline). IPL management is clearly incompetant. Do NOT agree to sell the company for any thing less then 25$. I storngly Encourage all shareholders to Vote No to both Pem and Brookfield. Another example of their incompetance is the breaking fee of 350 million dollars which benefits Pem. I wonder if this will result in calss aciton suit aginst the IPL board. Vote No to Brookfield Vote no to Pem. Donˋt listen to that board!
Hi, what will be the monthly dividend on 500 shares, please?
Thinking of buy.
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