Inter Pipeline (TSE:IPL) Share Price Passes Below 50 Day Moving Average of $22.61

Inter Pipeline Ltd (TSE:IPL) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.61 and traded as low as $21.27. Inter Pipeline shares last traded at $21.61, with a volume of 2,661,910 shares.

A number of analysts have recently issued reports on IPL shares. National Bank Financial cut shares of Inter Pipeline from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$27.00 to C$26.00 in a research note on Friday. Raymond James upgraded shares of Inter Pipeline from an “underperform” rating to a “market perform” rating and raised their target price for the stock from C$20.00 to C$25.00 in a research note on Monday, August 12th. BMO Capital Markets raised their target price on shares of Inter Pipeline from C$23.00 to C$24.00 in a research note on Monday, September 9th. 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 research note on Monday, August 12th. Finally, CIBC cut shares of Inter Pipeline from an “outperform” rating to a “neutral” rating and cut their target price for the stock from C$24.00 to C$22.00 in a research note on Friday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$25.33.

The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 153.30. The firm’s 50 day simple moving average is C$22.55 and its two-hundred day simple moving average is C$22.27. The firm has a market cap of $9.27 billion and a price-to-earnings ratio of 12.93.

Inter Pipeline (TSE:IPL) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.28 earnings per share for the quarter, topping 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 analyst estimates of C$556.00 million. As a group, equities research analysts anticipate that Inter Pipeline Ltd will post 1.3 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a $0.1425 dividend. This represents a $1.71 annualized dividend and a yield of 7.88%. The ex-dividend date is Thursday, November 21st. Inter Pipeline’s dividend payout ratio (DPR) is 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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