According to The Fly, raymond James analyst Chris Cox reiterated a Sell rating on Inter Pipeline Ltd (IPPLF) yesterday. The company’s shares opened today at $15.39, close to its 52-week low of $15.11.
According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.6% and a 45.6% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.
The the analyst consensus on Inter Pipeline Ltd is currently a Moderate Buy rating.
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Based on Inter Pipeline Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $130 million. In comparison, last year the company had a net profit of $114 million.
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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.
