Insider Buying: Inter Pipeline Ltd (IPL) Director Buys 1,000 Shares of Stock
Inter Pipeline Ltd (TSE:IPL) Director Alison Taylor Love acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average cost of C$23.27 per share, with a total value of C$23,270.00.
Shares of Inter Pipeline Ltd (TSE:IPL) traded down 1.37% during mid-day trading on Tuesday, reaching $23.12. The company had a trading volume of 1,251,079 shares. The firm has a 50-day moving average price of $24.82 and a 200-day moving average price of $26.94. The stock has a market capitalization of $8.76 billion and a price-to-earnings ratio of 17.34. Inter Pipeline Ltd has a 1-year low of $23.02 and a 1-year high of $30.07.
The business also recently announced a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 15th will be given a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Friday, August 18th.
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A number of analysts have recently weighed in on IPL shares. National Bank Financial dropped their price objective on Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating for the company in a research note on Friday. Scotiabank dropped their price objective on Inter Pipeline from C$29.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Monday. BMO Capital Markets dropped their price objective on Inter Pipeline from C$29.00 to C$27.00 in a research note on Friday. CIBC dropped their price objective on Inter Pipeline from C$32.00 to C$31.00 in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. dropped their price objective on Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating for the company in a research note on Monday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$29.78.
Inter Pipeline Company Profile
Inter Pipeline Ltd. engages in the petroleum transportation, natural gas liquids processing, and bulk liquid storage businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation, Conventional Oil Pipelines, Natural Gas Liquids (NGL) Processing, and Bulk Liquid Storage.
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