Inter Pipeline Ltd (TSE:IPL) had its price objective reduced by BMO Capital Markets from C$29.00 to C$27.00 in a research note issued to investors on Friday. BMO Capital Markets’ price target indicates a potential upside of 13.26% from the company’s current price.
Separately, CIBC cut their price target on Inter Pipeline from C$32.00 to C$31.00 in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of C$30.56.
Shares of Inter Pipeline (TSE IPL) traded down 2.43% during midday trading on Friday, hitting $23.26. 785,529 shares of the stock were exchanged. The firm has a 50 day moving average of $24.90 and a 200-day moving average of $27.05. Inter Pipeline has a one year low of $23.10 and a one year high of $30.07. The company has a market cap of $8.64 billion and a price-to-earnings ratio of 16.56.
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In other news, insider Cory Wade Neufeld bought 2,300 shares of the stock in a transaction on Thursday, June 15th. The shares were bought at an average price of C$25.61 per share, with a total value of C$58,903.00.
About Inter Pipeline
Inter Pipeline Ltd. engages in the petroleum transportation, natural gas liquids processing, and bulk liquid storage businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation, Conventional Oil Pipelines, Natural Gas Liquids (NGL) Processing, and Bulk Liquid Storage.
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