Raymond James analyst Chris Cox maintained a Hold rating on Inter Pipeline (IPPLF) today and set a price target of C$24.00. The company’s shares closed last Monday at $15.93.
According to TipRanks.com, Cox is a 3-star analyst with an average return of 3.3% and a 53.7% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Cenovus Energy, Gibson Energy, and Imperial Oil.
The word on The Street in general, suggests a Hold analyst consensus rating for Inter Pipeline with a $17.47 average price target, a 9.5% upside from current levels. In a report issued on February 21, CIBC also reiterated a Hold rating on the stock with a C$22.00 price target.
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Based on Inter Pipeline’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $60.5 million. In comparison, last year the company had a net profit of $109 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 segments: Oil Sands Transportation, Conventional Oil Pipelines, Natural Gas Liquids (NGL) Processing, Bulk Liquid Storage, and Corporate.
