Inter Pipeline Ltd (TSE:IPL) has received an average rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$27.78.
A number of research firms have recently commented on IPL. BMO Capital Markets increased their target price on Inter Pipeline from C$25.00 to C$26.00 in a research note on Friday, August 10th. CIBC dropped their price objective on Inter Pipeline from C$31.00 to C$30.00 in a research report on Wednesday, October 24th. National Bank Financial reaffirmed an “outperform” rating and set a C$31.00 price objective on shares of Inter Pipeline in a research report on Thursday, November 1st. Royal Bank of Canada dropped their price objective on Inter Pipeline from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Punk Ziegel & Co dropped their price objective on Inter Pipeline from C$25.00 to C$24.00 in a research report on Friday, October 5th.
In other Inter Pipeline news, Director Peter Louis Cella acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were bought at an average cost of C$17.12 per share, with a total value of C$171,200.00.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, December 14th will be given a dividend of $0.1425 per share. 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 annualized dividend and a dividend yield of 7.50%. 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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