Inter Pipeline Ltd (IPL) Receives Consensus Rating of “Hold” from Brokerages
Inter Pipeline Ltd (TSE:IPL) has received an average rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$30.89.
Separately, CIBC reduced their price target on shares of Inter Pipeline from C$32.00 to C$31.00 in a research report on Monday.
In related news, insider Cory Wade Neufeld purchased 1,000 shares of Inter Pipeline stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of C$26.59 per share, with a total value of C$26,590.00.
Inter Pipeline (TSE:IPL) traded down 0.20% during mid-day trading on Monday, hitting $24.87. The stock had a trading volume of 464,450 shares. Inter Pipeline has a one year low of $24.31 and a one year high of $30.07. The stock has a market cap of $9.24 billion and a P/E ratio of 17.70. The company has a 50 day moving average price of $25.47 and a 200 day moving average price of $27.50.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $1.62 annualized dividend and a dividend yield of 6.51%.
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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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