Inter Pipeline (TSE:IPL) Trading Down 1% on Analyst Downgrade

Inter Pipeline Ltd (TSE:IPL)’s stock price traded down 1% on Monday after TD Securities lowered their price target on the stock from C$28.00 to C$26.00. TD Securities currently has a buy rating on the stock. Inter Pipeline traded as low as C$21.42 and last traded at C$21.49, 673,845 shares were traded during mid-day trading. A decline of 63% from the average session volume of 1,816,504 shares. The stock had previously closed at C$21.70.

Other analysts also recently issued research reports about the stock. AltaCorp Capital decreased their price objective on shares of Inter Pipeline from C$26.50 to C$26.00 in a report on Monday. CIBC downgraded shares of Inter Pipeline from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from C$24.00 to C$22.00 in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Inter Pipeline from C$25.00 to C$24.00 and set a “sector perform” rating on the stock in a report on Monday. National Bank Financial downgraded shares of Inter Pipeline from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$27.00 to C$26.00 in a report on Friday. Finally, Raymond James raised shares of Inter Pipeline from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from C$20.00 to C$25.00 in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of C$25.10.

The company has a market cap of $8.95 billion and a PE ratio of 12.78. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 153.30. The firm’s fifty day simple moving average is C$22.46 and its 200-day simple moving average is C$22.27.

Inter Pipeline (TSE:IPL) last announced its quarterly earnings results 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 business had revenue of C$641.60 million during the quarter, compared to analysts’ expectations of C$556.00 million. On average, analysts predict that Inter Pipeline Ltd will post 1.3 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be issued a $0.1425 dividend. This represents a $1.71 annualized dividend and a dividend yield of 7.97%. The ex-dividend date is Thursday, November 21st. Inter Pipeline’s dividend payout ratio (DPR) is presently 101.31%.

About Inter Pipeline (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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