Inter Pipeline (TSE:IPL) Cut to “Hold” at Industrial Alliance Securities

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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.

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 16th will be given a dividend of $0.1425 per share. This represents a $1.71 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend is Wednesday, August 21st. Inter Pipeline’s 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.

Further Reading: Equity Income

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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