CIBC upgraded shares of Inter Pipeline (TSE:IPL) from a neutral rating to an outperform rating in a research report report published on Monday, BayStreet.CA reports.
A number of other brokerages have also recently issued reports on IPL. BMO Capital Markets raised their target price on shares of Inter Pipeline from C$22.00 to C$23.00 in a report on Friday, August 9th. National Bank Financial raised their target price on shares of Inter Pipeline from C$26.00 to C$27.00 and gave the stock an outperform rating in a report on Monday. Raymond James reissued an underperform rating and issued a C$20.00 target price on shares of Inter Pipeline in a report on Friday, August 9th. Finally, Industrial Alliance Securities cut shares of Inter Pipeline from a strong-buy rating to a hold rating and raised their target price for the stock from C$25.50 to C$26.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Inter Pipeline has a consensus rating of Buy and a consensus target price of C$25.70.
Shares of TSE IPL opened at C$24.31 on Monday. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 153.85. The firm’s 50-day moving average price is C$22.33 and its two-hundred day moving average price is C$21.54. Inter Pipeline has a 52-week low of C$18.60 and a 52-week high of C$25.24. The stock has a market capitalization of $10.09 billion and a P/E ratio of 17.49.
The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 16th will be issued a $0.1425 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.71 dividend on an annualized basis and a yield of 7.03%. Inter Pipeline’s dividend payout ratio is currently 122.30%.
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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