Inter Pipeline Ltd (IPL) Receives C$28.61 Average PT from Analysts

Inter Pipeline Ltd (TSE:IPL) has been assigned a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$28.61.

Several equities analysts have commented on IPL shares. Raymond James downgraded shares of Inter Pipeline from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from C$26.00 to C$24.00 in a research report on Tuesday, April 24th. TD Securities lowered their target price on shares of Inter Pipeline from C$35.00 to C$31.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. CIBC lowered their target price on shares of Inter Pipeline to C$32.00 in a research report on Tuesday, May 8th. Finally, 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 research report on Tuesday, February 20th.

Inter Pipeline stock opened at C$24.29 on Thursday. Inter Pipeline has a one year low of C$21.36 and a one year high of C$27.92.

The firm also recently announced a monthly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 22nd will be given a dividend of $0.14 per share. This represents a $1.68 annualized dividend and a yield of 6.92%. The ex-dividend date is Thursday, June 21st.

In other Inter Pipeline news, insider James Joseph Madro purchased 3,350 shares of the stock in a transaction dated Thursday, March 22nd. The shares were bought at an average cost of C$22.14 per share, with a total value of C$74,169.00. Also, Director Peter Louis Cella purchased 10,000 shares of the stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of C$19.00 per share, for a total transaction of C$190,000.00. Insiders have acquired 13,850 shares of company stock worth $276,259 over the last three months.

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.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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