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 Desjardins’ analyst Bill Cabel, with a C$23 price target.
According to TipRanks.com, Cabel is ranked #585 out of 5156 analysts.
Currently, the analyst consensus on Inter Pipeline is a Moderate Buy with an average price target of C$26.29.
The company has a one-year high of C$25.66 and a one-year low of C$18.60. Currently, Inter Pipeline has an average volume of 1.61M.
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 Tuesday at C$20.70.
