Brookfield Infrastructure Partners (NYSE:BIP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a hold rating to a sell rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

A number of other research analysts have also commented on the company. Bank of America upped their target price on Brookfield Infrastructure Partners from $47.00 to $51.00 and gave the company a buy rating in a research note on Monday, September 23rd. TD Securities upped their target price on Brookfield Infrastructure Partners from $49.00 to $53.00 and gave the company a buy rating in a research note on Tuesday, October 1st. Credit Suisse Group set a $48.00 price objective on Brookfield Infrastructure Partners and gave the stock a hold rating in a research note on Monday, September 9th. Barclays increased their price objective on Brookfield Infrastructure Partners from $46.00 to $51.00 and gave the stock an equal weight rating in a research note on Monday, September 30th. Finally, Industrial Alliance Securities increased their price objective on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock a buy rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $49.25.

Shares of NYSE BIP traded up $0.13 during trading hours on Monday, reaching $47.97. The stock had a trading volume of 40,343 shares, compared to its average volume of 282,183. The business’s fifty day moving average is $47.90 and its two-hundred day moving average is $44.01. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 81.31, a PEG ratio of 1.41 and a beta of 0.82. Brookfield Infrastructure Partners has a twelve month low of $32.26 and a twelve month high of $49.99.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Friday, August 2nd. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.01 billion. Brookfield Infrastructure Partners had a return on equity of 1.40% and a net margin of 3.32%. Brookfield Infrastructure Partners’s revenue was up 61.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Research analysts predict that Brookfield Infrastructure Partners will post 3.43 earnings per share for the current year.

The business also recently disclosed a dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 30th were paid a dividend of $0.502 per share. The ex-dividend date of this dividend was Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 340.68%.

Institutional investors have recently added to or reduced their stakes in the business. First PREMIER Bank bought a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $251,000. Truvestments Capital LLC grew its holdings in shares of Brookfield Infrastructure Partners by 59.7% during the third quarter. Truvestments Capital LLC now owns 11,498 shares of the utilities provider’s stock worth $570,000 after purchasing an additional 4,298 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Brookfield Infrastructure Partners by 2.2% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 100,102 shares of the utilities provider’s stock worth $4,966,000 after purchasing an additional 2,140 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $125,000. Finally, Princeton Global Asset Management LLC grew its holdings in shares of Brookfield Infrastructure Partners by 73.1% during the second quarter. Princeton Global Asset Management LLC now owns 4,144 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,750 shares during the last quarter. Hedge funds and other institutional investors own 46.37% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The 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 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.

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