Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $47.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.00% from the stock’s current price.

According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “

A number of other equities research analysts have also recently issued reports on BIP. Raymond James Financial, Inc. upped their price objective on Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, June 5th. Scotiabank upped their price objective on Brookfield Infrastructure Partners from $40.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 6th. Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, June 9th. BidaskClub cut Brookfield Infrastructure Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group upgraded Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $44.00 in a research note on Friday, June 16th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $49.44.

Shares of Brookfield Infrastructure Partners (NYSE BIP) opened at 43.12 on Tuesday. The firm has a market capitalization of $11.20 billion, a PE ratio of 94.77 and a beta of 1.08. Brookfield Infrastructure Partners has a 12-month low of $30.76 and a 12-month high of $44.91. The company has a 50-day moving average of $43.25 and a 200 day moving average of $40.78.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $768.00 million. On average, analysts predict that Brookfield Infrastructure Partners will post $1.33 EPS for the current year.

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Several hedge funds have recently bought and sold shares of the stock. Bellwether Investment Group LLC increased its holdings in shares of Brookfield Infrastructure Partners by 1.2% during the 1st quarter. Bellwether Investment Group LLC now owns 2,718 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 32 shares during the last quarter. Bollard Group LLC increased its holdings in shares of Brookfield Infrastructure Partners by 1.0% during the 2nd quarter. Bollard Group LLC now owns 3,681 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 38 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Brookfield Infrastructure Partners by 0.5% during the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 12,400 shares of the utilities provider’s stock worth $507,000 after acquiring an additional 65 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 1.4% during the 2nd quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 100 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Brookfield Infrastructure Partners by 1.4% during the 2nd quarter. M&T Bank Corp now owns 10,960 shares of the utilities provider’s stock worth $449,000 after acquiring an additional 150 shares during the last quarter. 33.54% of the stock is currently owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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