Canaccord Genuity Keeps a Buy Rating on Inter Pipeline

Inter Pipeline (TSX: IPL), the Materials sector company, was revisited by a Wall Street analyst today. Analyst David Galison from Canaccord Genuity rated Inter Pipeline (TSX: IPL) a Buy, setting a C$28 price target.

According to TipRanks.com, Galison is ranked #1137 out of 4778 analysts.

Inter Pipeline has an analyst consensus of Moderate Buy, with a price target consensus of C$28.75.

Based on Inter Pipeline’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$142 million. In comparison, last year the company had a net profit of C$140 million.

Inter Pipeline Ltd. is a midstream oil and natural gas company, which engages in the provision of oil transportation, natural gas liquid processing, and bulk liquid storage services. It operates through the following business segments: Oil Sands Transportation, Conventional Oil Pipelines, Natural Gas Liquids (NGL) Processing, Bulk Liquid Storage, and Corporate. The Oil Sands Transportation segment consists of the Cold Lake, Corridor, and Polaris pipeline systems that transport petroleum products and provide related blending and handling services in Alberta. The Conventional Oil Pipelines segment primarily implicates the transportation, storage, and processing of hydrocarbons, as well as midstream marketing blending and handling services. The NGL Processing segment comprises of processing natural gas to extract NGLs including ethane and a mixture of propane, butane and pentanes plus. The Bulk Liquid Storage segment involves the primary storage and handling of bulk liquid products through the operation of sixteen bulk liquid storage terminals. The Corporate segment consists of general and administrative costs. The company was founded on October 9, 1997 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at C$24.13.