Inter Pipeline Ltd (TSE:IPL) had its target price upped by stock analysts at GMP Securities from C$29.00 to C$29.50 in a report released on Monday. GMP Securities’ target price points to a potential upside of 12.98% from the company’s previous close.
A number of other brokerages also recently issued reports on IPL. BMO Capital Markets reiterated an “outperform” rating and set a C$28.00 price objective on shares of Inter Pipeline in a research note on Friday. CIBC cut their price objective on Inter Pipeline from C$31.00 to C$30.00 in a research note on Monday. National Bank Financial cut their price objective on Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating for the company in a research note on Friday, August 11th. Scotiabank cut their price objective on Inter Pipeline from C$29.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Monday, August 14th. Finally, Raymond James Financial, Inc. lowered their price target on Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating on the stock in a report on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of C$29.72.
Shares of Inter Pipeline (IPL) traded down C$0.93 during trading hours on Monday, hitting C$26.11. The company had a trading volume of 1,486,793 shares, compared to its average volume of 964,383. Inter Pipeline has a 52 week low of C$22.14 and a 52 week high of C$30.07.
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In other Inter Pipeline news, insider James Joseph Madro purchased 2,200 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average cost of C$22.49 per share, with a total value of C$49,478.00. Also, insider Brent Heagy purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average cost of C$23.06 per share, for a total transaction of C$92,240.00. Over the last three months, insiders purchased 8,550 shares of company stock worth $195,985.
About Inter Pipeline
Inter Pipeline Ltd. is a petroleum transportation, storage and natural gas liquids processing business. The Company’s segments include oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) processing business and bulk liquid storage business. The Company geographical segments include Canada and Europe.
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