Brookfield Infrastructure Partners LP (NYSE:BIP) Sees Large Growth in Short Interest

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 951,500 shares, an increase of 42.3% from the September 30th total of 668,500 shares. Based on an average daily volume of 551,600 shares, the short-interest ratio is presently 1.7 days. Currently, 0.2% of the shares of the stock are sold short. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 551,600 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BIP. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Jefferies Financial Group set a $37.00 price target on Brookfield Infrastructure Partners and gave the company a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of large investors have recently made changes to their positions in BIP. SouthState Corp purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $37,000. Westfuller Advisors LLC acquired a new position in Brookfield Infrastructure Partners in the third quarter valued at approximately $44,000. City Holding Co. acquired a new position in Brookfield Infrastructure Partners in the third quarter valued at approximately $59,000. Caldwell Trust Co acquired a new position in Brookfield Infrastructure Partners in the second quarter valued at approximately $66,000. Finally, AdvisorNet Financial Inc lifted its holdings in Brookfield Infrastructure Partners by 17.7% in the third quarter. AdvisorNet Financial Inc now owns 2,160 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 325 shares during the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock traded down $0.15 during trading hours on Tuesday, reaching $34.10. The company had a trading volume of 317,958 shares, compared to its average volume of 523,841. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a fifty day moving average of $32.73 and a 200-day moving average of $32.17. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 682.16 and a beta of 1.16. Brookfield Infrastructure Partners has a 12-month low of $25.72 and a 12-month high of $35.64.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.