Inter Pipeline (TSE:IPL) had its price objective decreased by National Bank Financial from C$29.50 to C$28.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.
Several other research analysts have also commented on the stock. BMO Capital Markets cut their price target on shares of Inter Pipeline from C$24.00 to C$22.00 in a report on Friday. Raymond James cut their price target on shares of Inter Pipeline from C$23.00 to C$20.00 and set an underperform rating on the stock in a report on Wednesday, February 20th. Royal Bank of Canada cut their price target on shares of Inter Pipeline from C$28.00 to C$25.00 and set an outperform rating on the stock in a report on Tuesday, February 19th. CIBC cut their price target on shares of Inter Pipeline from C$29.00 to C$26.00 in a report on Tuesday, February 19th. Finally, TD Securities cut their price target on shares of Inter Pipeline from C$31.00 to C$28.00 in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of C$25.11.
IPL opened at C$20.78 on Friday. The company has a debt-to-equity ratio of 142.72, a quick ratio of 0.16 and a current ratio of 0.18. Inter Pipeline has a 1 year low of C$18.60 and a 1 year high of C$25.66. The company has a market capitalization of $8.47 billion and a P/E ratio of 13.62.
The company also recently disclosed a monthly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.142 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 8.20%. Inter Pipeline’s dividend payout ratio is currently 110.42%.
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.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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