Inter Pipeline Ltd (TSE:IPL) has been given an average rating of “Buy” by the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$29.78.
A number of equities research analysts have issued reports on the stock. AltaCorp Capital upgraded shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating in a report on Tuesday, August 22nd. National Bank Financial reduced their target price on shares of Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating on the stock in a report on Thursday, August 17th. BMO Capital Markets reduced their target price on shares of Inter Pipeline from C$29.00 to C$27.00 in a report on Thursday, August 17th. Scotiabank reduced their target price on shares of Inter Pipeline from C$29.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Monday, August 14th. Finally, Royal Bank Of Canada reduced their target price on shares of Inter Pipeline from C$32.00 to C$30.00 and set an “outperform” rating on the stock in a report on Monday, August 14th.
Inter Pipeline (IPL) remained flat at $22.62 on Tuesday. The stock had a trading volume of 601,620 shares. The firm has a 50-day moving average of $23.56 and a 200-day moving average of $26.13. The firm has a market cap of $8.47 billion and a price-to-earnings ratio of 16.92. Inter Pipeline has a 1-year low of $22.14 and a 1-year high of $30.07.
The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.135 per share. The ex-dividend date is Friday, August 18th. This represents a $1.62 annualized dividend and a yield of 7.16%.
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 13,450 shares of company stock worth $316,335 over the last quarter.
Inter Pipeline Company Profile
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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