In a new note to investors today, an analyst has provided a rating update for Inter Pipeline (IPL). Analyst Patrick Kenny from National Bank remains bullish on the stock and has a C$28 price target.
According to TipRanks.com, Kenny is a 3-star analyst with an average return of 4.4% and a 76.2% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Pembina Pipeline, and Enbridge Inc.
Inter Pipeline has an analyst consensus of Moderate Buy, with a price target consensus of C$24.75, representing a 17.6% upside. In a report issued on February 7, Canaccord Genuity also reiterated a Buy rating on the stock with a C$26 price target.
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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 1.66M.
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$21.05.
