Inter Pipeline Ltd. (OTCMKTS:IPPLF) announced a dividend on Saturday, May 15th, investing.com reports. Stockholders of record on Friday, May 21st will be paid a dividend of 0.3951 per share on Tuesday, June 15th. This represents a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, May 20th. This is an increase from Inter Pipeline’s previous dividend of $0.38.
Inter Pipeline stock opened at $14.81 on Monday. Inter Pipeline has a 1 year low of $8.10 and a 1 year high of $14.96. The firm’s 50 day moving average price is $14.44 and its 200-day moving average price is $11.99.
Several research analysts have commented on the stock. Stifel Nicolaus lowered shares of Inter Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday, April 22nd. CIBC lowered shares of Inter Pipeline from an “outperform” rating to a “neutral” rating in a research note on Monday, February 22nd. Credit Suisse Group raised shares of Inter Pipeline from an “underperform” rating to a “neutral” rating in a research note on Thursday, February 11th. Canaccord Genuity upped their price objective on shares of Inter Pipeline from $14.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, February 11th. Finally, Scotiabank upped their price objective on shares of Inter Pipeline from $17.50 to $18.00 and gave the stock a “sector perform” rating in a research note on Friday, April 23rd. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.82.
Inter Pipeline Ltd. engages in the petroleum transportation and storage, and natural gas liquids (NGL) processing businesses in Canada and Europe. The company operates through four segments: Oil Sands Transportation; Conventional Oil Pipelines; NGL Processing; and Bulk Liquid Storage. The Oil Sands Transportation segment transports petroleum products through Cold Lake, Corridor, and Polaris pipeline systems covering approximately 3,300 kilometers of pipeline and 3.8 million barrels of storage capacity; and related blending and handling services.
Further Reading: Dividend Yield
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