Inter Pipeline Ltd (IPL) Insider Brent Heagy Purchases 5,500 Shares of Stock

Inter Pipeline Ltd (IPL) Insider Brent Heagy Purchases 5,500 Shares of Stock

Inter Pipeline Ltd (TSE:IPL) insider Brent Heagy bought 5,500 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were acquired at an average price of C$28.56 per share, for a total transaction of C$157,080.00.

Shares of Inter Pipeline Ltd (TSE:IPL) opened at 28.99 on Friday. The stock has a market capitalization of $10.42 billion and a P/E ratio of 21.54. Inter Pipeline Ltd has a 52 week low of $20.10 and a 52 week high of $30.07. The stock has a 50 day moving average price of $29.22 and a 200 day moving average price of $28.00.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 15th will be paid a $0.135 dividend. The ex-dividend date is Thursday, January 19th. This represents a $1.62 annualized dividend and a dividend yield of 5.59%.

IPL has been the topic of several research analyst reports. National Bank Financial upped their target price on Inter Pipeline from C$30.00 to C$31.00 in a research report on Wednesday. Desjardins upped their target price on Inter Pipeline from C$28.00 to C$30.00 in a research report on Wednesday, December 21st. Raymond James Financial, Inc. upped their target price on Inter Pipeline from C$29.00 to C$30.00 in a research report on Tuesday, December 13th. CIBC upped their target price on Inter Pipeline from C$30.00 to C$31.00 in a research report on Tuesday, December 13th. Finally, BMO Capital Markets upped their target price on Inter Pipeline from C$28.00 to C$28.50 in a research report on Tuesday, December 13th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$30.06.

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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