The stock of Inter Pipeline Ltd (TSE:IPL) gapped down by $0.05 today and has $24.51 target or 9.00% below today’s $26.93 share price. The 7 months technical chart setup indicates high risk for the $9.63 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $24.51 price target is reached, the company will be worth $866.70M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 330,988 shares traded hands. Inter Pipeline Ltd (TSE:IPL) has risen 3.98% since April 25, 2016 and is uptrending. It has underperformed by 1.28% the S&P500.
Inter Pipeline Ltd (TSE:IPL) Ratings Coverage
Out of 4 analysts covering Inter Pipeline Ltd. (TSE:IPL), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $36 is the highest target while $25 is the lowest. The $28.63 average target is 6.31% above today’s ($26.93) stock price. Inter Pipeline Ltd. has been the topic of 20 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm earned “Market Perform” rating on Thursday, August 18 by BMO Capital Markets. TD Securities maintained it with “Buy” rating and $33 target price in Friday, August 7 report. The firm has “Outperform” rating by National Bank Canada given on Friday, August 7. As per Friday, August 7, the company rating was maintained by Raymond James. BMO Capital Markets initiated the stock with “Market Perform” rating in Thursday, February 4 report. The stock of Inter Pipeline Ltd (TSE:IPL) has “Sector Perform” rating given on Friday, August 7 by Scotia Capital. As per Monday, June 6, the company rating was maintained by Raymond James.
More notable recent Inter Pipeline Ltd (TSE:IPL) news were published by: Business.Financialpost.com which released: “Inter Pipeline Ltd upgraded following Williams deal” on August 18, 2016, also Bloomberg.com with their article: “Inter Pipeline Makes $1 Billion Bet on Rally in Williams Buy” published on August 08, 2016, Forbes.com published: “Ex-Div Reminder for Inter Pipeline (IPL)” on August 16, 2016. More interesting news about Inter Pipeline Ltd (TSE:IPL) were released by: Fool.ca and their article: “Dividend Investors: Is Altagas Ltd. or Inter Pipeline Ltd. a Better Pick Today?” published on November 21, 2016 as well as Fool.ca‘s news article titled: “Inter Pipeline Ltd: Is the 7% Yield Reliable?” with publication date: February 08, 2016.
Inter Pipeline Ltd. owns and operates energy infrastructure assets located in western Canada and Europe. The company has a market cap of $9.63 billion. Inter Pipeline operates in four divisions: oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) extraction business and the bulk liquid storage business. It has a 20.02 P/E ratio. The Company’s oil sands transportation business consists of the Corridor, Cold Lake and Polaris pipeline systems, which transport petroleum products and provide related blending and handling services in Alberta.
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