Inter Pipeline Ltd (IPL) Declares Monthly Dividend of $0.14
Inter Pipeline Ltd (TSE:IPL) announced a monthly dividend on Thursday, January 17th, TickerTech reports. Stockholders of record on Friday, February 15th will be paid a dividend of 0.1425 per share on Friday, February 15th. This represents a $1.71 annualized dividend and a dividend yield of 8.18%. The ex-dividend date is Thursday, January 17th. This is an increase from Inter Pipeline’s previous monthly dividend of $0.14.
Shares of TSE IPL opened at C$20.90 on Friday. Inter Pipeline has a 12 month low of C$18.60 and a 12 month high of C$25.98. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 145.36.
Inter Pipeline (TSE:IPL) last issued its quarterly earnings data on Thursday, November 8th. The company reported C$0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.41 by C$0.03. The business had revenue of C$685.00 million for the quarter, compared to analysts’ expectations of C$654.00 million. As a group, equities research analysts expect that Inter Pipeline will post 1.51999986643745 EPS for the current fiscal year.
Several analysts have issued reports on the company. CIBC cut their target price on Inter Pipeline from C$31.00 to C$30.00 in a research note on Wednesday, October 24th. Punk Ziegel & Co lowered their price objective on Inter Pipeline from C$25.00 to C$24.00 in a research report on Friday, October 5th. National Bank Financial reiterated an “outperform” rating and issued a C$31.00 price objective on shares of Inter Pipeline in a research report on Thursday, November 1st. BMO Capital Markets reiterated a “market perform” rating and issued a C$26.00 price objective on shares of Inter Pipeline in a research report on Tuesday, December 4th. Finally, Royal Bank of Canada lowered their price objective on Inter Pipeline from C$30.00 to C$28.00 and set an “outperform” rating for the company in a research report on Monday, November 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Inter Pipeline presently has an average rating of “Hold” and a consensus price target of C$27.78.
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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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