Raymond James upgraded shares of Inter Pipeline (TSE:IPL) from an underperform rating to a market perform rating in a research report report published on Monday, BayStreet.CA reports. They currently have C$25.00 price objective on the stock, up from their previous price objective of C$20.00.
IPL has been the topic of several other reports. National Bank Financial upped their price objective on shares of Inter Pipeline from C$26.00 to C$27.00 and gave the stock an outperform rating in a research note on Monday. BMO Capital Markets upped their price objective on shares of Inter Pipeline from C$22.00 to C$23.00 in a research note on Friday, August 9th. Industrial Alliance Securities cut shares of Inter Pipeline from a strong-buy rating to a hold rating and upped their price objective for the stock from C$25.50 to C$26.00 in a research note on Monday. Finally, CIBC raised shares of Inter Pipeline from a neutral rating to an outperform rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of C$25.70.
TSE IPL opened at C$24.31 on Monday. The stock has a market cap of $10.09 billion and a P/E ratio of 17.49. The company’s 50-day simple moving average is C$22.33 and its 200 day simple moving average is C$21.54. Inter Pipeline has a twelve month low of C$18.60 and a twelve month high of C$25.24. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 153.85.
The company also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.1425 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.71 annualized dividend and a yield of 7.03%. Inter Pipeline’s dividend payout ratio is 122.30%.
Inter Pipeline Company Profile
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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