Inter Pipeline Ltd (IPL) PT Raised to C$32.00 at RBC Capital Markets

Inter Pipeline Ltd (TSE:IPL) had its target price increased by research analysts at RBC Capital Markets from C$31.00 to C$32.00 in a research note issued on Tuesday. RBC Capital Markets’ target price would suggest a potential upside of 10.27% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. TD Securities restated a “buy” rating and set a C$30.00 price objective on shares of Inter Pipeline in a research report on Monday, November 7th. National Bank Financial boosted their price objective on Inter Pipeline from C$30.00 to C$31.00 in a research report on Wednesday, January 25th. Scotiabank restated a “sector perform” rating and set a C$29.00 price objective on shares of Inter Pipeline in a research report on Tuesday, December 20th. CIBC boosted their price objective on Inter Pipeline from C$31.00 to C$32.00 in a research report on Thursday, February 9th. Finally, Desjardins boosted their price objective on Inter Pipeline from C$28.00 to C$30.00 in a research report on Wednesday, December 21st. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$31.10.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

Shares of Inter Pipeline (TSE:IPL) opened at 29.02 on Tuesday. The firm has a 50-day moving average price of $28.87 and a 200 day moving average price of $28.17. Inter Pipeline has a 12-month low of $23.13 and a 12-month high of $30.07. The firm has a market cap of $10.44 billion and a price-to-earnings ratio of 21.56.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 15th will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, February 21st. This represents a $1.62 dividend on an annualized basis and a yield of 5.58%.

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In related news, insider Brent Heagy acquired 5,500 shares of Inter Pipeline stock in a transaction that occurred on Monday, January 23rd. The stock was acquired at an average price of C$28.56 per share, for a total transaction of C$157,080.00.

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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