Brookfield Infrastructure Partners (NYSE:BIP) Hits New 52-Week High – What’s Next?

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $41.70 and last traded at $41.3850, with a volume of 791609 shares. The stock had previously closed at $40.41.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BIP shares. National Bank Financial increased their price objective on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Weiss Ratings lowered Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Wall Street Zen cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Morgan Stanley restated an “overweight” rating and set a $48.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, July 21st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Brookfield Infrastructure Partners Stock Performance

The stock’s 50 day moving average price is $38.30 and its 200 day moving average price is $37.30. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.64 and a current ratio of 0.68. The company has a market capitalization of $19.43 billion, a P/E ratio of 63.45 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.62. Brookfield Infrastructure Partners had a net margin of 3.46% and a return on equity of 2.54%. The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, equities analysts expect that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.82 dividend on an annualized basis and a yield of 4.3%. Brookfield Infrastructure Partners’s dividend payout ratio is 275.76%.

Insiders Place Their Bets

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant acquired 1,150 shares of the stock in a transaction dated Friday, May 1st. The stock was purchased at an average cost of $48.10 per share, with a total value of $55,315.00. Following the transaction, the chief financial officer owned 2,150 shares in the company, valued at approximately $103,415. The trade was a 115.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors grew its stake in Brookfield Infrastructure Partners by 0.3% during the fourth quarter. Capital World Investors now owns 31,104,057 shares of the utilities provider’s stock worth $1,081,181,000 after purchasing an additional 86,068 shares during the period. CIBC Asset Management Inc lifted its stake in Brookfield Infrastructure Partners by 7.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,559,336 shares of the utilities provider’s stock valued at $297,699,000 after buying an additional 589,915 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 6.2% during the 3rd quarter. Scotia Capital Inc. now owns 7,367,383 shares of the utilities provider’s stock worth $241,967,000 after buying an additional 431,557 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Brookfield Infrastructure Partners by 3.8% during the 4th quarter. TD Asset Management Inc now owns 7,015,901 shares of the utilities provider’s stock worth $244,192,000 after buying an additional 259,074 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in shares of Brookfield Infrastructure Partners by 0.4% during the 4th quarter. Cibc World Market Inc. now owns 6,688,284 shares of the utilities provider’s stock worth $232,351,000 after buying an additional 24,650 shares during the period. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.