Inter Pipeline Ltd (IPL) Given Average Recommendation of “Hold” by Analysts

Inter Pipeline Ltd (TSE:IPL) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$28.61.

A number of equities analysts have commented on the stock. Canaccord Genuity reduced their target price on shares of Inter Pipeline from C$30.00 to C$28.00 in a report on Wednesday, February 14th. CIBC reduced their target price on shares of Inter Pipeline to C$32.00 in a report on Tuesday, May 8th. TD Securities reduced their target price on shares of Inter Pipeline from C$35.00 to C$31.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Raymond James downgraded shares of Inter Pipeline from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from C$26.00 to C$24.00 in a report on Tuesday, April 24th. Finally, Scotiabank reduced their target price on shares of Inter Pipeline from C$28.00 to C$27.00 and set a “sector perform” rating for the company in a report on Tuesday, February 20th.

In related news, Director Peter Louis Cella acquired 10,000 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were purchased at an average price of C$19.00 per share, for a total transaction of C$190,000.00. Also, insider James Joseph Madro acquired 3,350 shares of the business’s stock in a transaction dated 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. Insiders acquired 13,850 shares of company stock valued at $276,259 over the last quarter.

Shares of IPL stock traded up C$0.50 on Thursday, hitting C$24.62. The stock had a trading volume of 714,334 shares, compared to its average volume of 968,709. Inter Pipeline has a one year low of C$21.36 and a one year high of C$27.92.

The company also recently announced a monthly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 22nd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $1.68 dividend on an annualized basis and a yield of 6.82%.

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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