TD Securities Increases Brookfield Infrastructure Partners LP (NYSE:BIP) Price Target to $44.00
Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) had its price target boosted by TD Securities from $42.00 to $44.00 in a research note published on Tuesday, August 8th. The firm currently has a buy rating on the utilities provider’s stock.
BIP has been the subject of a number of other research reports. Zacks Investment Research raised Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $46.00 price target for the company in a research report on Friday, June 2nd. Royal Bank Of Canada lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company an outperform rating in a research note on Friday, May 5th. BidaskClub lowered Brookfield Infrastructure Partners from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Scotiabank lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $57.00 and gave the company an outperform rating in a research note on Tuesday, June 6th. Finally, Credit Suisse Group reiterated a buy rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $45.72.
Brookfield Infrastructure Partners (NYSE:BIP) traded up 0.39% during mid-day trading on Tuesday, reaching $44.20. The company had a trading volume of 190,456 shares. Brookfield Infrastructure Partners has a 52 week low of $30.76 and a 52 week high of $44.74. The firm has a market capitalization of $11.48 billion, a PE ratio of 97.14 and a beta of 1.11. The stock’s 50-day moving average price is $41.25 and its 200 day moving average price is $39.11.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. The firm had revenue of $934 million for the quarter, compared to analyst estimates of $768 million. On average, equities research analysts predict that Brookfield Infrastructure Partners will post $1.24 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be paid a $0.435 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.74 annualized dividend and a dividend yield of 3.94%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 370.22%.
Institutional investors have recently made changes to their positions in the stock. Partners Value Investments LP acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at $128,693,000. Bank of Montreal Can raised its position in shares of Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock valued at $540,437,000 after buying an additional 2,947,311 shares in the last quarter. Capital World Investors raised its position in shares of 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 in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at $57,006,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at $51,505,000. Hedge funds and other institutional investors own 34.02% 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. 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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