Inter Pipeline (TSE:IPL) Share Price Passes Below Fifty Day Moving Average of $23.71

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Inter Pipeline Ltd (TSE:IPL)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $23.71 and traded as low as $22.22. Inter Pipeline shares last traded at $22.32, with a volume of 318,112 shares changing hands.

A number of equities analysts have recently commented on the stock. Raymond James raised shares of Inter Pipeline from an “underperform” rating to a “market perform” rating and lifted their target price for the company from C$20.00 to C$25.00 in a report on Monday, August 12th. BMO Capital Markets boosted their price objective on shares of Inter Pipeline from C$23.00 to C$24.00 in a research note on Monday, September 9th. Industrial Alliance Securities cut shares of Inter Pipeline from a “strong-buy” rating to a “hold” rating and boosted their price objective for the company from C$25.50 to C$26.00 in a research note on Monday, August 12th. CIBC raised shares of Inter Pipeline from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Inter Pipeline from C$23.00 to C$25.00 in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$25.89.

The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 153.30. The company has a market capitalization of $9.21 billion and a price-to-earnings ratio of 13.29. The firm’s 50 day simple moving average is C$23.71 and its 200-day simple moving average is C$22.28.

Inter Pipeline (TSE:IPL) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.27 by C$0.01. The firm had revenue of C$641.60 million during the quarter, compared to analyst estimates of C$556.00 million. As a group, sell-side analysts forecast that Inter Pipeline Ltd will post 1.3099999 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a $0.1425 dividend. This is a boost from Inter Pipeline’s previous monthly dividend of $0.14. This represents a $1.71 annualized dividend and a yield of 7.67%. The ex-dividend date of this dividend is Monday, October 21st. Inter Pipeline’s payout ratio is currently 101.91%.

Inter Pipeline Company Profile (TSE:IPL)

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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