In a new note to investors yesterday, an analyst has provided a rating update for Inter Pipeline (IPL). The company received a Hold rating from CIBC’s analyst Robert Catellier, with a C$29 price target.
According to TipRanks.com, Catellier is a 2-star analyst with an average return of 0.2% and a 55.1% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Inter Pipeline with a C$27.13 average price target, which is a 30.5% upside from current levels. In a report issued on January 7, Desjardins also reiterated a Hold rating on the stock with a C$25 price target.
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Inter Pipeline’s market cap is currently C$8.11B and has a P/E ratio of 13.6. The company has a Price to Book ratio of 2.22.
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$20.79.
