Inter Pipeline Ltd (IPL) Earns “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Inter Pipeline Ltd (TSE:IPL) in a report released on Friday. The brokerage currently has a C$28.00 price objective on the stock.

Several other equities analysts have also recently issued reports on IPL. CIBC lowered their price objective on Inter Pipeline from C$32.00 to C$31.00 in a research report on Monday, July 24th. National Bank Financial lowered their price objective on 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. Raymond James Financial, Inc. lowered their price objective on 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. Royal Bank Of Canada lowered their price objective on Inter Pipeline from C$32.00 to C$30.00 and set an outperform rating on the stock in a research report on Monday, August 14th. Finally, Scotiabank lowered their price objective on Inter Pipeline from C$29.00 to C$28.00 and set a sector perform rating on the stock in a research report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Inter Pipeline has an average rating of Buy and an average target price of C$29.89.

Inter Pipeline (TSE IPL) opened at C$26.11 on Friday. Inter Pipeline has a 12-month low of C$22.14 and a 12-month high of C$30.07.

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The company also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $1.62 annualized dividend and a dividend yield of 6.20%. Inter Pipeline’s payout ratio is 120.30%.

In other news, insider Brent Heagy purchased 4,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of C$23.06 per share, with a total value of C$92,240.00. Also, insider James Joseph Madro purchased 2,200 shares of the stock in a transaction dated 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. Insiders have bought a total of 8,550 shares of company stock worth $195,985 over the last three months.

Inter Pipeline Company Profile

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.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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