The stock of Inter Pipeline Ltd (TSE:IPL) gapped up by $0.19 today and has $28.90 target or 5.00% above today’s $27.52 share price. The 5 months technical chart setup indicates low risk for the $9.79B company. The gap was reported on Nov, 30 by Barchart.com. If the $28.90 price target is reached, the company will be worth $489.50 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 286,651 shares traded hands. Inter Pipeline Ltd (TSE:IPL) has risen 1.72% since April 26, 2016 and is uptrending. It has underperformed by 3.50% 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 4.03% above today’s ($27.52) stock price. Inter Pipeline Ltd. has been the topic of 20 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was initiated by BMO Capital Markets on Thursday, February 4 with “Market Perform”. The firm earned “Market Perform” rating on Thursday, August 18 by BMO Capital Markets. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, August 7. The company was maintained on Friday, August 7 by TD Securities. The stock of Inter Pipeline Ltd (TSE:IPL) has “Market Perform” rating given on Friday, August 7 by Raymond James. The stock of Inter Pipeline Ltd (TSE:IPL) has “Outperform” rating given on Friday, August 7 by National Bank Canada. The company was maintained on Monday, June 6 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 $9.79 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 20.46 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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