Inter Pipeline (TSE:IPL) Downgraded by CIBC to “Neutral”

Inter Pipeline (TSE:IPL) was downgraded by research analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$22.00 target price on the stock, down from their prior target price of C$24.00. CIBC’s price objective suggests a potential upside of 1.38% from the company’s current price.

IPL has been the subject of several other research reports. BMO Capital Markets raised their price target on Inter Pipeline from C$23.00 to C$24.00 in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price target on Inter Pipeline from C$23.00 to C$25.00 in a report on Wednesday, August 28th. Raymond James upgraded Inter Pipeline from an “underperform” rating to a “market perform” rating and raised their price target for the company from C$20.00 to C$25.00 in a report on Monday, August 12th. Industrial Alliance Securities cut Inter Pipeline from a “strong-buy” rating to a “hold” rating and raised their price target for the company from C$25.50 to C$26.00 in a report on Monday, August 12th. Finally, National Bank Financial raised their price target on Inter Pipeline from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$25.33.

TSE IPL traded down C$0.78 during trading on Friday, hitting C$21.70. 4,017,344 shares of the stock traded hands, compared to its average volume of 1,822,194. The company has a market capitalization of $9.27 billion and a P/E ratio of 12.93. The firm has a 50-day simple moving average of C$22.61 and a 200-day simple moving average of C$22.28. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 153.30. Inter Pipeline has a 12-month low of C$18.60 and a 12-month high of C$25.42.

Inter Pipeline (TSE:IPL) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.28 earnings per share for the quarter, beating the consensus estimate of C$0.27 by C$0.01. The firm had revenue of C$641.60 million for the quarter, compared to analysts’ expectations of C$556.00 million. As a group, research analysts predict that Inter Pipeline will post 1.3 EPS for the current fiscal year.

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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