Inter Pipeline Ltd (TSE:IPL) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$30.89.
Separately, CIBC dropped their target price on Inter Pipeline from C$32.00 to C$31.00 in a research note on Monday, July 24th.
In related news, insider Cory Wade Neufeld purchased 2,300 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of C$25.61 per share, for a total transaction of C$58,903.00.
Shares of Inter Pipeline (TSE IPL) traded down 1.92% during midday trading on Monday, hitting $24.56. 835,923 shares of the stock were exchanged. The firm has a market capitalization of $9.13 billion and a price-to-earnings ratio of 17.48. Inter Pipeline has a 1-year low of $24.31 and a 1-year high of $30.07. The stock’s 50-day moving average price is $25.03 and its 200-day moving average price is $27.16.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 15th will be issued a $0.135 dividend. The ex-dividend date is Wednesday, July 19th. This represents a $1.62 dividend on an annualized basis and a yield of 6.60%.
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.
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