Tudor Pickering Maintains a Hold Rating on Inter Pipeline (IPPLF)
Tudor Pickering analyst Tudor Pickering maintained a Hold rating on Inter Pipeline (IPPLF) yesterday and set a price target of C$13.00. The company’s shares closed last Tuesday at $10.26.
Inter Pipeline has an analyst consensus of Hold, with a price target consensus of $10.95, which is a 5.5% upside from current levels. In a report issued on September 1, CIBC also maintained a Hold rating on the stock with a C$13.50 price target.
See today’s analyst top recommended stocks >>
Based on Inter Pipeline’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $540 million and net profit of $62.5 million. In comparison, last year the company earned revenue of $642 million and had a net profit of $260 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.