Inter Pipeline (TSE:IPL) Hits New 1-Year High at $20.63

Shares of Inter Pipeline Ltd. (TSE:IPL) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$20.63 and last traded at C$20.54, with a volume of 794821 shares changing hands. The stock had previously closed at C$20.37.

Several brokerages have issued reports on IPL. Tudor Pickering & Holt set a C$20.00 price target on Inter Pipeline and gave the company a “hold” rating in a research note on Friday, June 18th. CIBC reissued a “neutral” rating and issued a C$20.50 price target on shares of Inter Pipeline in a research note on Monday. National Bank Financial boosted their price target on Inter Pipeline from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday. Credit Suisse Group reaffirmed a “neutral” rating and set a C$20.00 target price on shares of Inter Pipeline in a research report on Wednesday, June 2nd. Finally, Stifel Firstegy lowered Inter Pipeline from a “buy” rating to a “hold” rating in a research report on Thursday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of C$18.10.

The stock has a fifty day simple moving average of C$18.69. The company has a market cap of C$8.83 billion and a price-to-earnings ratio of 22.19. The company has a debt-to-equity ratio of 164.76, a quick ratio of 0.20 and a current ratio of 0.34.

Inter Pipeline (TSE:IPL) last announced its quarterly earnings results on Thursday, May 6th. The company reported C$0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.16 by C$0.14. The company had revenue of C$697.20 million for the quarter. Sell-side analysts expect that Inter Pipeline Ltd. will post 1.15 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, July 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, June 21st. This represents a $0.48 dividend on an annualized basis and a yield of 2.33%. Inter Pipeline’s dividend payout ratio (DPR) is presently 51.78%.

Inter Pipeline Company Profile (TSE:IPL)

Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids (NGL) processing businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation; Conventional Oil Pipelines; NGL Processing; and Bulk Liquid Storage. The Oil Sands Transportation segment transports petroleum products through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity; and related blending and handling services.

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