RBC Capital Maintains Their Hold Rating on Inter Pipeline (IPPLF)


RBC Capital analyst Robert Kwan maintained a Hold rating on Inter Pipeline (IPPLF) on May 10 and set a price target of C$18.00. The company’s shares closed last Tuesday at $14.65, close to its 52-week high of $14.96.

According to TipRanks.com, Kwan is a 5-star analyst with an average return of 15.0% and a 75.7% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Fortis.

Inter Pipeline has an analyst consensus of Hold, with a price target consensus of $15.22, a 3.7% upside from current levels. In a report issued on May 6, Canaccord Genuity also maintained a Hold rating on the stock with a C$18.50 price target.

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Based on Inter Pipeline’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $624 million and net profit of $169 million. In comparison, last year the company earned revenue of $604 million and had a net profit of $89.1 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. 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.

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