Inter Pipeline (TSE:IPL) Shares Cross Below 50 Day Moving Average of $22.61

Shares of Inter Pipeline Ltd (TSE:IPL) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $22.61 and traded as low as $21.27. Inter Pipeline shares last traded at $21.61, with a volume of 2,661,910 shares traded.

IPL has been the subject of a number of analyst reports. National Bank Financial lowered Inter Pipeline from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from C$27.00 to C$26.00 in a research report on Friday. CIBC lowered Inter Pipeline from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$24.00 to C$22.00 in a research report on Friday. Industrial Alliance Securities lowered Inter Pipeline from a “strong-buy” rating to a “hold” rating and boosted their price target for the stock from C$25.50 to C$26.00 in a research report on Monday, August 12th. Raymond James upgraded Inter Pipeline from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from C$20.00 to C$25.00 in a research report on Monday, August 12th. Finally, BMO Capital Markets boosted their price target on Inter Pipeline from C$23.00 to C$24.00 in a research report on Monday, September 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Inter Pipeline currently has a consensus rating of “Hold” and an average price target of C$25.33.

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The company has a debt-to-equity ratio of 153.30, a current ratio of 0.18 and a quick ratio of 0.15. The firm has a market cap of $8.95 billion and a price-to-earnings ratio of 12.93. The company has a fifty day moving average price of C$22.55 and a two-hundred day moving average price of C$22.27.

Inter Pipeline (TSE:IPL) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.27 by C$0.01. The firm had revenue of C$641.60 million during the quarter, compared to analyst estimates of C$556.00 million. On average, research analysts expect that Inter Pipeline Ltd will post 1.3 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be issued a $0.1425 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.71 annualized dividend and a dividend yield of 7.88%. Inter Pipeline’s dividend payout ratio (DPR) is 101.31%.

Inter Pipeline Company Profile (TSE:IPL)

Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids processing 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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