Inter Pipeline Ltd (IPL) PT Raised to C$32.00

Inter Pipeline Ltd (TSE:IPL) had its price target upped by CIBC from C$31.00 to C$32.00 in a report issued on Thursday. CIBC’s target price would suggest a potential upside of 11.73% from the company’s previous close.

Other research analysts also recently issued reports about the company. Raymond James Financial, Inc. upped their price target on Inter Pipeline from C$29.00 to C$30.00 in a research note on Tuesday, December 13th. Scotiabank restated a “sector perform” rating and issued a C$29.00 price target on shares of Inter Pipeline in a research note on Tuesday, December 20th. Desjardins upped their price target on Inter Pipeline from C$28.00 to C$30.00 in a research note on Wednesday, December 21st. Royal Bank Of Canada increased their target price on Inter Pipeline from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Tuesday, December 13th. Finally, National Bank Financial increased their target price on Inter Pipeline from C$30.00 to C$31.00 in a research report on Wednesday, January 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$30.17.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

Inter Pipeline (TSE:IPL) opened at 28.64 on Thursday. Inter Pipeline has a 1-year low of $20.53 and a 1-year high of $30.07. The stock has a market capitalization of $10.30 billion and a P/E ratio of 21.28. The firm’s 50 day moving average is $28.97 and its 200 day moving average is $28.07.

The company also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.135 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Tuesday, February 21st.

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In other news, insider Brent Heagy purchased 5,500 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were acquired at an average price of C$28.56 per share, with a total value 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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