Industrial Alliance Securities lowered shares of Inter Pipeline (TSE:IPL) from a strong-buy rating to a hold rating in a report issued on Monday morning, BayStreet.CA reports. The firm currently has C$26.00 target price on the stock, up from their prior target price of C$25.50.
IPL has been the topic of several other reports. Raymond James restated an underperform rating and set a C$20.00 price objective on shares of Inter Pipeline in a report on Friday, August 9th. National Bank Financial reduced their price objective on Inter Pipeline from C$29.50 to C$28.00 and set an outperform rating on the stock in a report on Friday, May 10th. Finally, BMO Capital Markets raised their price objective on Inter Pipeline from C$22.00 to C$23.00 in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of C$25.70.
Shares of TSE IPL opened at C$24.46 on Monday. The business has a 50 day simple moving average of C$22.24. The stock has a market capitalization of $10.00 billion and a P/E ratio of 17.60. Inter Pipeline has a fifty-two week low of C$18.60 and a fifty-two week high of C$25.24. The company has a debt-to-equity ratio of 153.85, a quick ratio of 0.15 and a current ratio of 0.18.
The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be issued a $0.1425 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.71 dividend on an annualized basis and a dividend yield of 6.99%. Inter Pipeline’s dividend payout ratio is presently 122.30%.
About Inter Pipeline
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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