Raymond James downgraded shares of Inter Pipeline (TSE:IPL) from a market perform rating to an underperform rating in a report published on Tuesday. They currently have C$24.00 price target on the stock, down from their prior price target of C$26.00.
A number of other analysts also recently commented on the stock. TD Securities dropped their price target on shares of Inter Pipeline from C$35.00 to C$31.00 and set a buy rating on the stock in a research report on Tuesday, February 20th. Scotiabank dropped their price target on shares of Inter Pipeline from C$28.00 to C$27.00 and set a sector perform rating on the stock in a research report on Tuesday, February 20th. Canaccord Genuity dropped their price target on shares of Inter Pipeline from C$30.00 to C$28.00 in a research report on Wednesday, February 14th. BMO Capital Markets dropped their price target on shares of Inter Pipeline from C$28.00 to C$25.00 in a research report on Tuesday, February 6th. Finally, National Bank Financial upgraded shares of Inter Pipeline from a sector perform rating to an outperform rating and set a C$31.00 price target on the stock in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Inter Pipeline presently has an average rating of Hold and an average price target of C$28.61.
IPL stock opened at C$23.37 on Tuesday. Inter Pipeline has a 52 week low of C$21.36 and a 52 week high of C$28.89.
Inter Pipeline (TSE:IPL) last released its quarterly earnings results on Thursday, February 15th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.41 by C($0.04). Inter Pipeline had a return on equity of 16.63% and a net margin of 22.95%. The company had revenue of C$618.30 million for the quarter, compared to the consensus estimate of C$567.57 million.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 23rd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, April 20th. This represents a $1.68 annualized dividend and a dividend yield of 7.19%.
In other Inter Pipeline news, insider Cory Wade Neufeld acquired 3,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of C$22.50 per share, with a total value of C$67,500.00. Also, Director Margaret Anne Mckenzie acquired 1,700 shares of the stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of C$22.65 per share, for a total transaction of C$38,505.00. Insiders bought a total of 11,600 shares of company stock worth $259,550 in the last ninety days.
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Inter Pipeline Company Profile
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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