Inter Pipeline Ltd (IPL) Receives Average Rating of “Hold” from Analysts
Inter Pipeline Ltd (TSE:IPL) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$27.78.
A number of equities research analysts recently commented on the stock. Punk Ziegel & Co reduced their price objective on shares of Inter Pipeline from C$25.00 to C$24.00 in a research report on Friday, October 5th. Royal Bank of Canada reduced their price objective on shares of Inter Pipeline from C$30.00 to C$28.00 and set an “outperform” rating for the company in a research report on Monday, November 12th. National Bank Financial restated an “outperform” rating and issued a C$31.00 price objective on shares of Inter Pipeline in a research report on Thursday, November 1st. BMO Capital Markets restated a “market perform” rating and issued a C$26.00 price objective on shares of Inter Pipeline in a research report on Tuesday. Finally, CIBC reduced their price objective on shares of Inter Pipeline from C$31.00 to C$30.00 in a research report on Wednesday, October 24th.
In related news, Director Peter Louis Cella bought 10,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of C$17.12 per share, with a total value of C$171,200.00.
The business also recently announced a monthly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, December 14th will be issued a $0.1425 dividend. The ex-dividend date is Tuesday, November 20th. This is a boost from Inter Pipeline’s previous monthly dividend of $0.14. This represents a $1.71 dividend on an annualized basis and a yield of 8.14%. Inter Pipeline’s dividend payout ratio (DPR) is 108.77%.
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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