Brookfield Infrastructure Partners LP (NYSE:BIP) Stock Has Average Target Price of $45.33

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) has received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $45.33.

Several equities research analysts recently weighed in on BIP shares. National Bank Financial increased their target price on Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Wall Street Zen cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup reiterated a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Weiss Ratings raised Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets raised their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. lifted its stake in Brookfield Infrastructure Partners by 5.2% in the second quarter. QRG Capital Management Inc. now owns 8,721 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 433 shares during the period. Wellington Grp LLC increased its position in shares of Brookfield Infrastructure Partners by 55.8% during the second quarter. Wellington Grp LLC now owns 24,714 shares of the utilities provider’s stock valued at $902,000 after buying an additional 8,847 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at about $426,000. HB Wealth Management LLC bought a new position in Brookfield Infrastructure Partners in the second quarter worth about $345,000. Finally, Addenda Capital Inc. raised its stake in Brookfield Infrastructure Partners by 0.7% in the second quarter. Addenda Capital Inc. now owns 777,392 shares of the utilities provider’s stock worth $28,367,000 after buying an additional 5,534 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $36.48 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. The stock has a market cap of $16.80 billion, a PE ratio of 58.84 and a beta of 1.06. The company’s fifty day moving average is $37.88 and its 200 day moving average is $37.58. Brookfield Infrastructure Partners has a 52 week low of $33.21 and a 52 week high of $44.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.73. The business had revenue of $6.48 billion during the quarter, compared to analyst estimates of $2.23 billion. Brookfield Infrastructure Partners had a net margin of 3.51% and a return on equity of 2.63%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. Research analysts anticipate that Brookfield Infrastructure Partners will post 3.66 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were issued a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, August 31st. Brookfield Infrastructure Partners’s dividend payout ratio is currently 293.55%.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership’s portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.