TD Securities Increases Brookfield Infrastructure Partners LP (BIP) Price Target to $38.00
Brookfield Infrastructure Partners LP (NYSE:BIP) had its price target lifted by investment analysts at TD Securities from $36.00 to $38.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the stock.
BIP has been the subject of a number of other research reports. Barclays PLC reissued an “equal weight” rating and set a $42.67 target price (up previously from $42.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. Citigroup Inc. increased their target price on Brookfield Infrastructure Partners from $31.33 to $35.00 and gave the company a “neutral” rating in a report on Monday, September 19th. Credit Suisse Group AG reissued an “outperform” rating and set a $39.33 target price on shares of Brookfield Infrastructure Partners in a report on Monday, August 22nd. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Royal Bank Of Canada upped their price target on Brookfield Infrastructure Partners from $32.67 to $35.33 and gave the company an “outperform” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$38.10.
Shares of Brookfield Infrastructure Partners (NYSE:BIP) opened at 33.97 on Monday. The firm’s 50-day moving average price is $37.05 and its 200-day moving average price is $31.02. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 37.96 and a beta of 0.97. Brookfield Infrastructure Partners has a 12 month low of $20.33 and a 12 month high of $49.89.
Brookfield Infrastructure Partners (NYSE:BIP) last announced its earnings results on Wednesday, August 3rd. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.77. Brookfield Infrastructure Partners had a return on equity of 5.40% and a net margin of 20.77%. The business earned $462 million during the quarter, compared to analysts’ expectations of $674.50 million. Equities research analysts expect that Brookfield Infrastructure Partners will post $1.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 6.95%. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 175.75%.
A number of hedge funds and other institutional investors have recently modified their holdings of BIP. Bank of Montreal Can acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at $287,431,000. Emerald Acquisition Ltd. purchased a new position in Brookfield Infrastructure Partners during the second quarter valued at approximately $72,085,000. Sentry Investments Corp. raised its position in Brookfield Infrastructure Partners by 221.9% in the first quarter. Sentry Investments Corp. now owns 2,093,336 shares of the company’s stock valued at $88,192,000 after buying an additional 1,443,080 shares in the last quarter. Royal Bank of Canada raised its position in Brookfield Infrastructure Partners by 9.2% in the first quarter. Royal Bank of Canada now owns 10,309,879 shares of the company’s stock valued at $434,354,000 after buying an additional 869,958 shares in the last quarter. Finally, Geneva Advisors LLC raised its position in Brookfield Infrastructure Partners by 31.0% in the second quarter. Geneva Advisors LLC now owns 822,341 shares of the company’s stock valued at $37,219,000 after buying an additional 194,374 shares in the last quarter. Institutional investors own 29.78% of the company’s stock.
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. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.
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