Industrial Alliance Securities downgraded shares of Inter Pipeline (TSE:IPL) from a strong-buy rating to a hold rating in a research note released on Monday morning, BayStreet.CA reports. The brokerage currently has C$26.00 price objective on the stock, up from their previous price objective of C$25.50.
A number of other research firms also recently issued reports on IPL. BMO Capital Markets increased their price target on Inter Pipeline from C$22.00 to C$23.00 in a research report on Friday, August 9th. Raymond James reissued an underperform rating and set a C$20.00 price target on shares of Inter Pipeline in a research report on Friday, August 9th. Finally, National Bank Financial dropped their price target on Inter Pipeline from C$29.50 to C$28.00 and set an outperform rating on the stock in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of C$25.70.
IPL opened at C$24.31 on Monday. Inter Pipeline has a 12-month low of C$18.60 and a 12-month high of C$25.24. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 153.85. The business’s fifty day simple moving average is C$22.33 and its 200-day simple moving average is C$21.54. The company has a market capitalization of $10.09 billion and a price-to-earnings ratio of 17.49.
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.
Further Reading: Equity Income
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