|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||16.94 - 17.03|
|52 Week Range||13.66 - 19.30|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||14.69|
|Forward Dividend & Yield||1.29 (7.60%)|
|1y Target Est||N/A|
Shares of the company, which owns pipelines in Alberta and Saskatchewan as well as oil storage tanks in Canada and Europe, have risen about 16% since its August statement on the offer. Inter Pipeline's business of transporting and storing oil within Canada has been lucrative.
WINNIPEG, Manitoba/CALGARY, Alberta (Reuters) - A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada's midstream companies to offer insulation from volatile oil prices. Inter Pipeline, Pembina Pipeline Corp and Keyera Corp own key infrastructure such as gathering pipelines, gas-processing plants and storage tanks that are in high demand, and reported record second quarter profits.
Canada's Inter Pipeline Ltd confirmed on Friday it received an unsolicited takeover bid, but said it was not in talks to sell. Inter Pipeline's shares were halted on Friday, after a two-day rally sparked by a report of an offer for the oil pipeline and storage company. In a statement, the company said it was confirming the offer at the request of the Investment Industry Regulatory Organization of Canada (IIROC).