BMO Capital Markets restated their outperform rating on shares of Inter Pipeline Ltd (TSE:IPL) in a report released on Friday morning. BMO Capital Markets currently has a C$28.00 price target on the stock.
IPL has been the subject of several other research reports. National Bank Financial dropped their price objective on shares of Inter Pipeline from C$32.00 to C$31.00 and set a sector perform rating for the company in a report on Friday, August 11th. Scotiabank dropped their price objective on shares of Inter Pipeline from C$29.00 to C$28.00 and set a sector perform rating for the company in a report on Monday, August 14th. AltaCorp Capital raised shares of Inter Pipeline from a sector perform rating to an outperform rating in a report on Tuesday, August 22nd. Raymond James Financial, Inc. dropped their price objective on shares of Inter Pipeline from C$30.00 to C$26.00 and set a market perform rating for the company in a report on Monday, August 14th. Finally, CIBC dropped their price objective on shares of Inter Pipeline from C$32.00 to C$31.00 in a report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Inter Pipeline has a consensus rating of Buy and a consensus target price of C$29.72.
Shares of Inter Pipeline (IPL) opened at C$26.36 on Friday. Inter Pipeline has a fifty-two week low of C$22.14 and a fifty-two week high of C$30.07.
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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 issued a $0.135 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Friday, October 20th. Inter Pipeline’s dividend payout ratio is currently 115.94%.
In related news, insider James Joseph Madro purchased 2,200 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average price of C$22.49 per share, with a total value of C$49,478.00. Also, insider Brent Heagy purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average cost of C$23.06 per share, with a total value of C$92,240.00. In the last three months, insiders purchased 7,550 shares of company stock valued at $172,715.
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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