Raymond James Reaffirms Underperform Rating for Inter Pipeline (IPL)

Inter Pipeline (TSE:IPL)‘s stock had its “underperform” rating reiterated by research analysts at Raymond James in a research note issued on Tuesday, BayStreet.CA reports. They currently have a C$20.00 target price on the stock. Raymond James’ target price would suggest a potential downside of 3.29% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on IPL. CIBC decreased their target price on Inter Pipeline from C$30.00 to C$29.00 in a research report on Tuesday, January 15th. National Bank Financial decreased their target price on 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. reduced their price objective on Inter Pipeline from C$28.00 to C$26.00 in a research report on Friday, February 1st. Cormark reduced their price objective on Inter Pipeline from C$30.00 to C$27.00 in a research report on Tuesday, February 12th. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Inter Pipeline in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of C$25.11.

Shares of Inter Pipeline stock opened at C$20.68 on Tuesday. The company has a market cap of $8.39 billion and a price-to-earnings ratio of 13.55. 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 12-month low of C$18.60 and a 12-month high of C$25.66.

Inter Pipeline (TSE:IPL) last announced its earnings results on Thursday, February 14th. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.38 by C($0.02). The business had revenue of C$630.90 million during the quarter, compared to analysts’ expectations of C$685.00 million. As a group, equities analysts predict that Inter Pipeline will post 1.29999995614458 EPS for the current fiscal year.

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

Inter Pipeline Company Profile

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.

Featured Article: Why does a company issue an IPO?

Analyst Recommendations for Inter Pipeline (TSE:IPL)

Receive News & Ratings for Inter Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.