Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) had its target price upped by TD Securities from $42.00 to $44.00 in a research report sent to investors on Tuesday morning. The firm currently has a buy rating on the utilities provider’s stock.
A number of other research analysts have also recently issued reports on BIP. Barclays PLC reiterated an equal weight rating and issued a $42.00 target price (up previously from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Sunday, April 23rd. Royal Bank Of Canada boosted their price target on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock an outperform rating in a report on Friday, May 5th. Scotiabank boosted their price target on Brookfield Infrastructure Partners from $39.00 to $55.00 and gave the stock an outperform rating in a report on Friday, May 5th. Zacks Investment Research cut Brookfield Infrastructure Partners from a buy rating to a hold rating in a report on Thursday, June 1st. Finally, Raymond James Financial, Inc. boosted their price target on Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the stock an outperform rating in a report on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $45.72.
Brookfield Infrastructure Partners (NYSE:BIP) traded up 0.14% during trading on Tuesday, reaching $42.51. 295,015 shares of the company traded hands. The company’s 50-day moving average is $40.84 and its 200 day moving average is $38.80. Brookfield Infrastructure Partners has a 12 month low of $30.76 and a 12 month high of $43.48. The company has a market cap of $11.04 billion, a PE ratio of 93.43 and a beta of 1.11.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. The business had revenue of $934 million during the quarter, compared to the consensus estimate of $768 million. On average, analysts anticipate that Brookfield Infrastructure Partners will post $1.24 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Tuesday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 370.22%.
Several hedge funds have recently added to or reduced their stakes in BIP. Creative Planning boosted its stake in shares of Brookfield Infrastructure Partners by 53.2% in the first quarter. Creative Planning now owns 28,078 shares of the utilities provider’s stock valued at $1,086,000 after buying an additional 9,754 shares during the last quarter. Bellwether Investment Group LLC boosted its stake in shares of Brookfield Infrastructure Partners by 1.2% in the first quarter. Bellwether Investment Group LLC now owns 2,718 shares of the utilities provider’s stock valued at $105,000 after buying an additional 32 shares during the last quarter. Bollard Group LLC boosted its stake in shares of Brookfield Infrastructure Partners by 1.0% in the second quarter. Bollard Group LLC now owns 3,681 shares of the utilities provider’s stock valued at $151,000 after buying an additional 38 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $1,533,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $350,000. Institutional investors own 34.06% of the company’s stock.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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