Inter Pipeline (IPL) Gets a Buy Rating from Canaccord Genuity

Inter Pipeline (TSX: IPL), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Canaccord Genuity’s analyst David Galison, with a C$28 price target.

According to TipRanks.com, Galison is ranked #933 out of 4850 analysts.

Read also: Crude Oil: Sell Now, Buy Later

Inter Pipeline has an analyst consensus of Moderate Buy, with a price target consensus of C$28.

The company has a one-year high of C$27.92 and a one-year low of C$21.36. Currently, Inter Pipeline has an average volume of 935.2K.

Inter Pipeline Ltd. is a midstream oil and natural gas company, which engages in the provision of oil transportation, natural gas liquid processing, and bulk liquid storage services. It operates through the following business segments: Oil Sands Transportation, Conventional Oil Pipelines, Natural Gas Liquids (NGL) Processing, Bulk Liquid Storage, and Corporate. The Oil Sands Transportation segment consists of the Cold Lake, Corridor, and Polaris pipeline systems that transport petroleum products and provide related blending and handling services in Alberta. The Conventional Oil Pipelines segment primarily implicates the transportation, storage, and processing of hydrocarbons, as well as midstream marketing blending and handling services. The NGL Processing segment comprises of processing natural gas to extract NGLs including ethane and a mixture of propane, butane and pentanes plus. The Bulk Liquid Storage segment involves the primary storage and handling of bulk liquid products through the operation of sixteen bulk liquid storage terminals. The Corporate segment consists of general and administrative costs. The company was founded on October 9, 1997 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$25.21.

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