Inter Pipeline Ltd (IPL) Plans $0.14 Monthly Dividend

Inter Pipeline Ltd (TSE:IPL) declared a monthly dividend on Thursday, September 21st, TickerTech reports. Shareholders of record on Monday, October 16th will be paid a dividend of 0.135 per share on Monday, October 16th. This represents a $1.62 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Thursday, September 21st.

Shares of Inter Pipeline (TSE IPL) traded up 0.18% during trading on Friday, reaching $22.88. 3,226,772 shares of the company’s stock were exchanged. Inter Pipeline has a 52-week low of $22.14 and a 52-week high of $30.07. The company has a 50 day moving average price of $23.32 and a 200-day moving average price of $26.00. The company has a market capitalization of $8.57 billion and a PE ratio of 17.11.

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IPL has been the topic of several recent research reports. AltaCorp Capital upgraded shares of Inter Pipeline from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, August 22nd. National Bank Financial decreased their target price on shares of Inter Pipeline from C$32.00 to C$31.00 and set a “sector perform” rating on the stock in a research report on Friday, August 11th. BMO Capital Markets decreased their target price on shares of Inter Pipeline from C$29.00 to C$27.00 in a research report on Thursday, August 17th. CIBC decreased their target price on shares of Inter Pipeline from C$32.00 to C$31.00 in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. decreased their target price on shares of Inter Pipeline from C$30.00 to C$26.00 and set a “market perform” rating on the stock in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$29.78.

In other news, insider James Joseph Madro purchased 2,200 shares of Inter Pipeline stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of C$22.49 per share, for a total transaction of C$49,478.00. Also, insider Cory Wade Neufeld purchased 2,000 shares of Inter Pipeline stock in a transaction on Monday, August 14th. The stock was purchased at an average price of C$23.54 per share, for a total transaction of C$47,080.00. Over the last 90 days, insiders acquired 11,500 shares of company stock worth $265,409.

About Inter Pipeline

Inter Pipeline Ltd. is a petroleum transportation, storage and natural gas liquids processing business. The Company’s segments include oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) processing business and bulk liquid storage business. The Company geographical segments include Canada and Europe.

Dividend History for Inter Pipeline (TSE:IPL)

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