Inter Pipeline (TSE:IPL) Lifted to Buy at Industrial Alliance Securities

Industrial Alliance Securities upgraded shares of Inter Pipeline (TSE:IPL) from a hold rating to a buy rating in a report issued on Thursday, BayStreet.CA reports. The firm currently has C$25.00 price target on the stock.

Several other research firms also recently weighed in on IPL. JPMorgan Chase & Co. raised their target price on Inter Pipeline from C$23.00 to C$25.00 in a research report on Wednesday, August 28th. TD Securities decreased their target price on Inter Pipeline from C$28.00 to C$26.00 and set a buy rating on the stock in a research report on Monday, November 11th. Raymond James restated a market perform rating and issued a C$24.00 target price on shares of Inter Pipeline in a research report on Tuesday, November 12th. Royal Bank of Canada decreased their target price on Inter Pipeline from C$25.00 to C$24.00 and set a sector perform rating on the stock in a research report on Monday, November 11th. Finally, National Bank Financial downgraded Inter Pipeline from an outperform rating to a sector perform rating and decreased their target price for the company from C$27.00 to C$26.00 in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of C$24.90.

Shares of TSE IPL traded up C$0.14 during midday trading on Thursday, hitting C$21.92. The stock had a trading volume of 1,238,500 shares, compared to its average volume of 1,812,177. The company has a market capitalization of $9.07 billion and a PE ratio of 15.32. The stock has a 50 day simple moving average of C$22.28 and a 200-day simple moving average of C$22.26. Inter Pipeline has a 1 year low of C$18.60 and a 1 year high of C$25.42. The company has a quick ratio of 0.10, a current ratio of 0.12 and a debt-to-equity ratio of 159.67.

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 16th will be given a dividend of $0.1425 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.71 dividend on an annualized basis and a yield of 7.80%. Inter Pipeline’s payout ratio is 119.50%.

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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Analyst Recommendations for Inter Pipeline (TSE:IPL)

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