Inter Pipeline Ltd (IPL) Declares Dividend Increase – C$0.14 Per Share
Inter Pipeline Ltd (TSE:IPL) announced a monthly dividend on Friday, November 18th. Investors of record on Thursday, December 15th will be paid a dividend of 0.135 per share on Thursday, December 15th. This represents a $1.62 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend is Friday, November 18th. This is a positive change from Inter Pipeline’s previous monthly dividend of $0.13.
Shares of Inter Pipeline (TSE:IPL) opened at 26.48 on Friday. The company has a 50-day moving average price of $27.67 and a 200 day moving average price of $27.32. The stock has a market capitalization of $8.92 billion and a P/E ratio of 19.48. Inter Pipeline has a 52 week low of $18.43 and a 52 week high of $28.89.
Several research firms have recently commented on IPL. Scotiabank reissued a “sector perform” rating and issued a C$27.00 target price on shares of Inter Pipeline in a research note on Friday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a C$28.00 target price on shares of Inter Pipeline in a research note on Thursday, August 18th. TD Securities cut Inter Pipeline from a “buy” rating to a “hold” rating and lifted their target price for the company from C$26.00 to C$27.00 in a research note on Friday, August 5th. CIBC lifted their target price on Inter Pipeline from C$29.00 to C$30.00 in a research note on Thursday, August 18th. Finally, Raymond James Financial Inc. lifted their target price on Inter Pipeline from C$27.50 to C$29.00 in a research note on Wednesday, October 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$29.22.
About Inter Pipeline
Inter Pipeline Ltd. (Inter Pipeline) owns and operates energy infrastructure assets located in western Canada and Europe. Inter Pipeline operates in four segments: oil sands transportation business, conventional oil pipelines business, natural gas liquids (NGL) extraction business and the bulk liquid storage business.
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