ValuEngine upgraded shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a sell rating to a hold rating in a report released on Friday.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a hold rating to a sell rating in a research report on Monday, September 10th. Credit Suisse Group set a $46.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock a buy rating in a research report on Thursday, September 13th. Citigroup set a $43.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock a neutral rating in a research report on Monday, August 27th. Royal Bank of Canada upped their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday, August 3rd. Finally, Bank of America started coverage on shares of Brookfield Infrastructure Partners in a research report on Tuesday, July 10th. They set a buy rating for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Brookfield Infrastructure Partners has an average rating of Buy and a consensus price target of $46.70.
BIP traded up $0.71 on Friday, hitting $39.82. 284,952 shares of the stock were exchanged, compared to its average volume of 289,689. Brookfield Infrastructure Partners has a 12 month low of $37.27 and a 12 month high of $46.88. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.25 and a beta of 0.95.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.55). Brookfield Infrastructure Partners had a return on equity of 3.29% and a net margin of 8.25%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $833.00 million. Sell-side analysts anticipate that Brookfield Infrastructure Partners will post 3.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, August 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.72%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 124.50%.
Several hedge funds have recently bought and sold shares of BIP. WealthPLAN Partners LLC bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $204,000. Bridges Investment Management Inc. bought a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $230,000. Chicago Capital LLC bought a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $232,000. Community Financial Services Group LLC bought a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $288,000. Finally, Cypress Wealth Services LLC bought a new position in shares of Brookfield Infrastructure Partners in the second quarter worth about $301,000. 37.99% of the stock is owned by hedge funds and other institutional investors.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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