CIBC upgraded shares of Inter Pipeline (TSE:IPL) from a neutral rating to an outperform rating in a report published on Monday, BayStreet.CA reports.
Several other analysts also recently issued reports on the company. BMO Capital Markets increased their price target on Inter Pipeline from C$22.00 to C$23.00 in a report on Friday, August 9th. National Bank Financial increased their price target on Inter Pipeline from C$26.00 to C$27.00 and gave the company an outperform rating in a report on Monday. Industrial Alliance Securities downgraded Inter Pipeline from a strong-buy rating to a hold rating and increased their price target for the company from C$25.50 to C$26.00 in a report on Monday. Finally, Raymond James reiterated an underperform rating and issued a C$20.00 price target on shares of Inter Pipeline 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. Inter Pipeline has an average rating of Buy and an average target price of C$25.70.
Shares of TSE IPL opened at C$24.31 on Monday. Inter Pipeline has a 12-month low of C$18.60 and a 12-month high of C$25.24. The company has a market cap of $10.09 billion and a P/E ratio of 17.49. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 153.85. The stock has a fifty day moving average price of C$22.33 and a 200 day moving average price of C$21.54.
The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.1425 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.71 annualized dividend and a dividend yield of 7.03%. 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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