Inter Pipeline Ltd (IPL) Announces Monthly Dividend of $0.14
Inter Pipeline Ltd (TSE:IPL) announced a monthly dividend on Tuesday, November 20th, TickerTech reports. Investors of record on Friday, December 14th will be given a dividend of 0.1425 per share on Friday, December 14th. This represents a $1.71 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Tuesday, November 20th. This is a boost from Inter Pipeline’s previous monthly dividend of $0.14.
Inter Pipeline stock opened at C$22.76 on Monday. The company has a debt-to-equity ratio of 145.36, a quick ratio of 0.15 and a current ratio of 0.17. Inter Pipeline has a twelve month low of C$20.68 and a twelve month high of C$27.92.
Several analysts recently weighed in on the company. Royal Bank of Canada cut their price target on Inter Pipeline from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. National Bank Financial restated an “outperform” rating and issued a C$31.00 price target on shares of Inter Pipeline in a research note on Thursday, November 1st. CIBC cut their price target on Inter Pipeline from C$31.00 to C$30.00 in a research note on Wednesday, October 24th. Punk Ziegel & Co cut their price target on Inter Pipeline from C$25.00 to C$24.00 in a research note on Friday, October 5th. Finally, BMO Capital Markets upped their price target on Inter Pipeline from C$25.00 to C$26.00 in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of C$27.78.
Inter Pipeline Company Profile
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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