Punk Ziegel & Co Cuts Inter Pipeline (IPL) Price Target to C$24.00

Inter Pipeline (TSE:IPL) had its target price trimmed by Punk Ziegel & Co from C$25.00 to C$24.00 in a research note published on Friday.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Inter Pipeline from C$25.00 to C$26.00 in a report on Friday, August 10th. Raymond James upped their price objective on shares of Inter Pipeline from C$24.00 to C$25.00 in a report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of C$28.17.

Shares of IPL opened at C$22.39 on Friday. Inter Pipeline has a 12-month low of C$21.36 and a 12-month high of C$27.92.

Inter Pipeline (TSE:IPL) last announced its quarterly earnings data on Thursday, August 9th. The company reported C$0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.37 by C($0.02). Inter Pipeline had a net margin of 22.95% and a return on equity of 16.63%. The firm had revenue of C$631.00 million during the quarter, compared to analysts’ expectations of C$581.89 million.

The business also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 15th will be given a $0.14 dividend. The ex-dividend date is Friday, October 19th. This represents a $1.68 dividend on an annualized basis and a yield of 7.50%.

About Inter Pipeline

Inter Pipeline Ltd. engages in the petroleum transportation, 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. The Oil Sands Transportation segment transports petroleum products, such as bitumen blend and diluent through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity.

See Also: Intrinsic Value

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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