Inter Pipeline Ltd (IPL) PT Lowered to C$31.00

Inter Pipeline Ltd (TSE:IPL) had its target price reduced by CIBC from C$32.00 to C$31.00 in a report published on Monday, July 24th.

Inter Pipeline (TSE IPL) traded down 0.15% during mid-day trading on Monday, hitting $22.68. The company had a trading volume of 683,716 shares. The stock’s 50 day moving average price is $24.53 and its 200 day moving average price is $26.80. The firm has a market cap of $8.49 billion and a P/E ratio of 16.96. Inter Pipeline has a 52-week low of $22.50 and a 52-week high of $30.07.

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The firm also recently announced a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 15th will be given a $0.135 dividend. This represents a $1.62 annualized dividend and a yield of 7.14%. The ex-dividend date is Friday, August 18th.

In other Inter Pipeline news, insider Cory Wade Neufeld bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was acquired at an average price of C$23.54 per share, with a total value of C$47,080.00. Also, insider Brent Heagy bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of C$23.06 per share, with a total value of C$92,240.00. Over the last 90 days, insiders purchased 11,250 shares of company stock worth $266,857.

Inter Pipeline Company Profile

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.

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