Inter Pipeline Ltd (TSE:IPL) Director Lorne Easton Brown acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of C$23.02 per share, with a total value of C$23,020.00.

Shares of Inter Pipeline Ltd (TSE IPL) traded down 0.61% during trading on Wednesday, reaching $22.98. The company had a trading volume of 1,026,485 shares. The company has a market capitalization of $8.71 billion and a PE ratio of 17.24. Inter Pipeline Ltd has a 52 week low of $22.96 and a 52 week high of $30.07. The stock’s 50-day moving average price is $24.70 and its 200-day moving average price is $26.87.

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 15th will be issued a $0.135 dividend. This represents a $1.62 annualized dividend and a yield of 7.05%. The ex-dividend date is Friday, August 18th.

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IPL has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Inter Pipeline from C$29.00 to C$27.00 in a research note on Friday, August 11th. CIBC dropped their price objective on Inter Pipeline from C$32.00 to C$31.00 in a research note on Monday, July 24th. 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. Royal Bank Of Canada dropped their price objective on Inter Pipeline from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research note on Monday. Finally, 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of C$29.78.

About Inter Pipeline

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.

Insider Buying and Selling by Quarter for Inter Pipeline (TSE:IPL)

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