Brookfield Infrastructure Partners LP (BIP) Downgraded by BMO Capital Markets

BMO Capital Markets cut shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from an outperform rating to a neutral rating in a research report report published on Tuesday. They currently have $44.00 price target on the utilities provider’s stock.

Several other analysts have also weighed in on the company. Scotiabank boosted their price objective on Brookfield Infrastructure Partners from $39.00 to $55.00 and gave the company an outperform rating in a report on Friday, May 5th. Credit Suisse Group raised Brookfield Infrastructure Partners from a neutral rating to an outperform rating and boosted their price objective for the company from $40.00 to $44.00 in a report on Friday, June 16th. Zacks Investment Research raised Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $46.00 price objective for the company in a report on Friday, June 2nd. Royal Bank Of Canada boosted their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company an outperform rating in a report on Friday, May 5th. Finally, Raymond James Financial, Inc. boosted their price objective on Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the company an outperform rating in a report on Monday, June 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $45.55.

Brookfield Infrastructure Partners (BIP) opened at 43.79 on Tuesday. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 96.24 and a beta of 1.11. The firm has a 50-day moving average price of $41.58 and a 200 day moving average price of $39.37. Brookfield Infrastructure Partners has a 1-year low of $30.76 and a 1-year high of $44.91.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced 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. The business had revenue of $934 million for the quarter, compared to analysts’ expectations of $768 million. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post $1.38 EPS for the current fiscal year.

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The business also recently announced 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 3.97%. The ex-dividend date is Tuesday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 370.22%.

Several institutional investors have recently bought and sold shares of BIP. Capital World Investors raised its position in Brookfield Infrastructure Partners by 58.9% in the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock valued at $213,297,000 after buying an additional 1,932,672 shares during the period. Sentry Investments Corp. raised its position in Brookfield Infrastructure Partners by 4.2% in the first quarter. Sentry Investments Corp. now owns 4,421,590 shares of the utilities provider’s stock valued at $170,983,000 after buying an additional 176,900 shares during the period. Partners Value Investments LP bought a new position in Brookfield Infrastructure Partners during the first quarter valued at approximately $128,693,000. Montrusco Bolton Investments Inc. raised its position in Brookfield Infrastructure Partners by 46.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,812,319 shares of the utilities provider’s stock valued at $69,903,000 after buying an additional 574,812 shares during the period. Finally, First Manhattan Co. raised its position in Brookfield Infrastructure Partners by 1.3% in the second quarter. First Manhattan Co. now owns 1,632,968 shares of the utilities provider’s stock valued at $66,804,000 after buying an additional 20,217 shares during the period. 34.02% of the stock is owned by institutional investors.

About Brookfield Infrastructure Partners

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).