Inter Pipeline (IPL) Sets New 52-Week Low at $22.75
Inter Pipeline Ltd (TSE:IPL) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$22.75 and last traded at C$22.91, with a volume of 352914 shares. The stock had previously closed at C$22.97.
IPL has been the subject of several research reports. Raymond James lifted their price objective on shares of Inter Pipeline from C$24.00 to C$25.00 in a research note on Thursday, July 5th. BMO Capital Markets lifted their price objective on shares of Inter Pipeline from C$25.00 to C$26.00 in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Inter Pipeline has an average rating of “Hold” and an average target price of C$28.69.
Inter Pipeline (TSE:IPL) last posted its quarterly earnings data on Thursday, August 9th. The company reported C$0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.37 by C($0.02). Inter Pipeline had a return on equity of 16.63% and a net margin of 22.95%. The company had revenue of C$631.00 million for the quarter, compared to analyst estimates of C$581.89 million.
About Inter Pipeline (TSE:IPL)
Inter Pipeline Ltd. engages in the petroleum transportation, 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. The Oil Sands Transportation segment transports petroleum products, such as bitumen blend and diluent through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity.
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