Inter Pipeline Ltd (TSE:IPL) has been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$29.78.
Several equities analysts have commented on IPL shares. AltaCorp Capital raised shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, August 22nd. National Bank Financial decreased their price target on shares of Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating for the company in a research report on Friday, August 11th. BMO Capital Markets decreased their price target on shares of Inter Pipeline from C$29.00 to C$27.00 in a research report on Thursday, August 17th. CIBC decreased their price target on shares of Inter Pipeline from C$32.00 to C$31.00 in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. decreased their price target on shares of Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating for the company in a research report on Monday, August 14th.
Shares of Inter Pipeline (TSE IPL) traded down 0.27% during trading on Friday, reaching $25.89. 708,936 shares of the company were exchanged. Inter Pipeline has a 1-year low of $22.14 and a 1-year high of $30.07. The firm has a 50-day moving average price of $24.03 and a 200-day moving average price of $25.63. The stock has a market capitalization of $9.70 billion and a P/E ratio of 19.36.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, October 20th. This represents a $1.62 annualized dividend and a yield of 6.26%.
In related news, insider Brent Heagy purchased 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were purchased at an average cost of C$23.06 per share, for a total transaction of C$92,240.00. Also, insider James Joseph Madro purchased 2,200 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average price of C$22.49 per share, for a total transaction of C$49,478.00. Insiders have purchased a total of 11,500 shares of company stock worth $265,409 over the last quarter.
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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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