Inter Pipeline (TSE:IPL) Share Price Crosses Above Fifty Day Moving Average of $18.19

Inter Pipeline Ltd. (TSE:IPL) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$18.19 and traded as high as C$20.23. Inter Pipeline shares last traded at C$20.20, with a volume of 1,504,138 shares trading hands.

A number of brokerages have recently commented on IPL. Wells Fargo & Company raised their price target on Inter Pipeline from C$13.00 to C$17.00 in a report on Friday, February 12th. Tudor Pickering raised their price target on Inter Pipeline to C$19.00 and gave the company a “hold” rating in a report on Friday, May 7th. Canaccord Genuity lifted their target price on Inter Pipeline from C$14.00 to C$16.50 in a report on Friday, February 12th. ATB Capital lifted their target price on Inter Pipeline from C$13.00 to C$18.00 and gave the stock a “na” rating in a report on Monday, February 22nd. Finally, Stifel Firstegy lowered Inter Pipeline from a “buy” rating to a “hold” rating in a report on Thursday, April 22nd. Thirteen investment analysts have rated the stock with a hold rating, Inter Pipeline currently has a consensus rating of “Hold” and an average price target of C$17.78.

The stock has a 50 day moving average price of C$18.23. The company has a market capitalization of C$8.65 billion and a PE ratio of 21.74. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 164.76.

Inter Pipeline (TSE:IPL) last issued its quarterly earnings results on Thursday, May 6th. The company reported C$0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.16 by C$0.14. The company had revenue of C$697.20 million during the quarter. On average, analysts expect that Inter Pipeline Ltd. will post 1.15 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, May 20th. This represents a $0.48 dividend on an annualized basis and a yield of 2.38%. Inter Pipeline’s payout ratio is presently 51.78%.

About Inter Pipeline (TSE:IPL)

Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids (NGL) processing businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation; Conventional Oil Pipelines; NGL Processing; and Bulk Liquid Storage. The Oil Sands Transportation segment transports petroleum products through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity; and related blending and handling services.

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