Brookfield Infrastructure Partners LP (BIP) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a buy rating to a hold rating in a report published on Monday.

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. “

Several other research analysts have also commented on BIP. CSFB raised shares of Brookfield Infrastructure Partners from a neutral rating to an outperform rating and lifted their price objective for the stock from $40.00 to $44.00 in a research note on Friday. BidaskClub lowered shares of 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 shares of 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 reaffirmed a buy rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, June 9th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the stock an outperform rating in a research note on Monday, June 5th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $45.43.

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

Brookfield Infrastructure Partners (BIP) traded down 0.64% during midday trading on Monday, reaching $40.59. 53,501 shares of the company were exchanged. The company has a 50-day moving average of $39.98 and a 200 day moving average of $36.94. The firm has a market capitalization of $10.54 billion, a PE ratio of 44.51 and a beta of 1.13. Brookfield Infrastructure Partners has a 52 week low of $27.79 and a 52 week high of $41.33.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.435 per share. The ex-dividend date is Friday, May 26th. This represents a $1.74 annualized dividend and a dividend yield of 4.26%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 188.45%.

Several hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in Brookfield Infrastructure Partners during the fourth quarter valued at $360,000. Thompson Siegel & Walmsley LLC increased its stake in Brookfield Infrastructure Partners by 11,135.9% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 50,449 shares of the utilities provider’s stock valued at $1,689,000 after buying an additional 50,000 shares during the period. Renaissance Technologies LLC acquired a new stake in Brookfield Infrastructure Partners during the fourth quarter valued at $1,533,000. Franklin Resources Inc. increased its stake in Brookfield Infrastructure Partners by 69.3% in the fourth quarter. Franklin Resources Inc. now owns 329,463 shares of the utilities provider’s stock valued at $11,023,000 after buying an additional 134,862 shares during the period. Finally, Two Sigma Investments LP increased its stake in Brookfield Infrastructure Partners by 337.8% in the fourth quarter. Two Sigma Investments LP now owns 74,140 shares of the utilities provider’s stock valued at $2,481,000 after buying an additional 57,204 shares during the period. Institutional investors and hedge funds own 34.61% 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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