Inter Pipeline (TSE:IPL) declared a monthly dividend on Friday, March 9th, Zacks reports. Investors of record on Thursday, March 22nd will be given a dividend of 0.14 per share on Monday, April 16th. This represents a $1.68 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend is Wednesday, March 21st.
IPL traded down C$0.02 during trading on Friday, hitting C$22.76. 787,196 shares of the stock traded hands, compared to its average volume of 1,059,276. Inter Pipeline has a twelve month low of C$21.36 and a twelve month high of C$28.89.
Inter Pipeline (TSE:IPL) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.41 by C($0.04). The company had revenue of C$618.30 million for the quarter, compared to analyst estimates of C$567.57 million. Inter Pipeline had a return on equity of 16.63% and a net margin of 22.95%.
In other Inter Pipeline news, insider James Joseph Madro bought 3,350 shares of the firm’s stock in a transaction that occurred on Thursday, March 22nd. The shares were bought at an average price of C$22.14 per share, for a total transaction of C$74,169.00. Also, insider David Michael Chappell bought 5,800 shares of the firm’s stock in a transaction that occurred on Monday, January 15th. The stock was acquired at an average price of C$25.89 per share, for a total transaction of C$150,162.00. Over the last three months, insiders acquired 18,720 shares of company stock valued at $443,850.
IPL has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on shares of Inter Pipeline from C$28.00 to C$25.00 in a research report on Tuesday, February 6th. TD Securities increased their price objective on shares of Inter Pipeline from C$33.00 to C$35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Scotiabank lowered their target price on shares of Inter Pipeline from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 20th. CIBC increased their price objective on shares of Inter Pipeline from C$30.00 to C$32.00 in a research note on Tuesday, December 19th. Finally, National Bank Financial raised shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating and set a C$31.00 target price for the company in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$29.06.
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About Inter Pipeline
Inter Pipeline Ltd. engages in the petroleum transportation, storage, and natural gas liquids processing 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. The Oil Sands Transportation segment transports petroleum products, such as bitumen blend and diluent through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity.
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