AltaCorp Capital upgraded shares of Inter Pipeline Ltd (TSE:IPL) from a sector perform rating to an outperform rating in a research note published on Tuesday.

A number of other brokerages have also issued reports on IPL. CIBC cut their price target on shares of Inter Pipeline from C$32.00 to C$31.00 in a research note on Monday, July 24th. National Bank Financial cut their price target on shares of Inter Pipeline from C$32.00 to C$31.00 and set a sector perform rating on the stock in a research note on Friday, August 11th. BMO Capital Markets cut their target price on shares of Inter Pipeline from C$29.00 to C$27.00 in a research note on Friday, August 11th. Scotiabank cut their target price on shares of Inter Pipeline from C$29.00 to C$28.00 and set a sector perform rating on the stock in a research note on Monday, August 14th. Finally, Raymond James Financial, Inc. cut their target price on shares of Inter Pipeline from C$30.00 to C$26.00 and set a market perform rating on the stock in a research note on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of C$29.78.

Shares of Inter Pipeline (TSE IPL) opened at 22.74 on Tuesday. The company’s 50-day moving average is $24.22 and its 200 day moving average is $26.60. The company has a market cap of $8.52 billion and a price-to-earnings ratio of 17.01. Inter Pipeline has a 1-year low of $22.25 and a 1-year high of $30.07.

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The firm also recently declared a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 15th will be issued a $0.135 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend is Friday, August 18th.

In other news, insider Cory Wade Neufeld acquired 2,300 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of C$25.61 per share, with a total value of C$58,903.00. Also, insider James Joseph Madro acquired 2,200 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was purchased at an average cost of C$22.49 per share, with a total value of C$49,478.00. Insiders purchased 13,450 shares of company stock valued at $316,335 over the last ninety days.

About Inter Pipeline

Inter Pipeline Ltd. engages in the petroleum transportation, natural gas liquids processing, and bulk liquid storage 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.

Analyst Recommendations for Inter Pipeline (TSE:IPL)

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