Raymond James Reaffirms “Underperform” Rating for Inter Pipeline (IPL)

Inter Pipeline (TSE:IPL)‘s stock had its “underperform” rating restated by Raymond James in a research report issued on Tuesday, BayStreet.CA reports. They currently have a C$20.00 target price on the stock. Raymond James’ price objective points to a potential downside of 3.33% from the company’s previous close.

Several other equities analysts have also commented on IPL. CIBC lowered their price objective on shares of Inter Pipeline from C$30.00 to C$29.00 in a research report on Tuesday, January 15th. National Bank Financial lowered their price objective on shares of Inter Pipeline from C$31.00 to C$29.00 and set an “outperform” rating for the company in a research report on Wednesday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Inter Pipeline from C$28.00 to C$26.00 in a research report on Friday, February 1st. Cormark lowered their price objective on shares of Inter Pipeline from C$30.00 to C$27.00 in a research report on Tuesday, February 12th. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of Inter Pipeline in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$25.11.

Shares of TSE:IPL opened at C$20.69 on Tuesday. The company has a debt-to-equity ratio of 142.72, a current ratio of 0.18 and a quick ratio of 0.16. Inter Pipeline has a fifty-two week low of C$18.60 and a fifty-two week high of C$25.66. The firm has a market cap of $8.39 billion and a P/E ratio of 13.56.

Inter Pipeline (TSE:IPL) last released its quarterly earnings data on Thursday, February 14th. The company reported C$0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.38 by C($0.02). The business had revenue of C$630.90 million for the quarter, compared to analyst estimates of C$685.00 million. Research analysts anticipate that Inter Pipeline will post 1.29999995614458 earnings per share for the current year.

In other Inter Pipeline news, Senior Officer Jeremy Allan Roberge acquired 3,600 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of C$20.82 per share, for a total transaction of C$74,952.00. Following the completion of the transaction, the insider now directly owns 16,700 shares of the company’s stock, valued at C$347,694.

About Inter Pipeline

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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Analyst Recommendations for Inter Pipeline (TSE:IPL)

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