Inter Pipeline (TSE:IPL) had its price target dropped by research analysts at TD Securities from C$31.00 to C$28.00 in a note issued to investors on Tuesday. TD Securities’ target price would indicate a potential upside of 33.08% from the stock’s previous close.
A number of other equities analysts also recently commented on IPL. CIBC reduced their price objective on shares of Inter Pipeline from C$31.00 to C$30.00 in a research note on Wednesday, October 24th. National Bank Financial restated an “outperform” rating and set a C$31.00 price objective on shares of Inter Pipeline in a research note on Thursday, November 1st. Royal Bank of Canada reduced their price objective on shares of Inter Pipeline from C$30.00 to C$28.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. BMO Capital Markets restated a “market perform” rating and set a C$26.00 price objective on shares of Inter Pipeline in a research note on Tuesday, December 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Inter Pipeline from C$28.00 to C$26.00 in a research note on Friday, February 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of C$26.00.
Shares of Inter Pipeline stock traded down C$0.28 during trading hours on Tuesday, reaching C$21.04. 1,768,378 shares of the company’s stock were exchanged, compared to its average volume of 1,628,682. Inter Pipeline has a fifty-two week low of C$18.60 and a fifty-two week high of C$25.66. The company has a debt-to-equity ratio of 142.72, a current ratio of 0.18 and a quick ratio of 0.16. The company has a market cap of $8.58 billion and a price-to-earnings ratio of 13.78.
Inter Pipeline Ltd. engages in the petroleum transportation, 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.
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