Brookfield Infrastructure Partners LP (NYSE:BIP)‘s stock had its “buy” rating reaffirmed by investment analysts at BMO Capital Markets in a report issued on Friday.
BIP has been the topic of a number of other reports. Credit Suisse Group AG restated a “buy” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a research note on Tuesday, September 20th. RBC Capital Markets reiterated an “outperform” rating and issued a $47.00 price objective (up previously from $46.00) on shares of Brookfield Infrastructure Partners in a report on Monday, September 26th. Citigroup Inc. raised their price objective on shares of Brookfield Infrastructure Partners from $31.33 to $35.00 and gave the company a “neutral” rating in a report on Monday, September 19th. Royal Bank Of Canada raised their price objective on shares of Brookfield Infrastructure Partners from $32.67 to $35.33 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, TD Securities reiterated a “buy” rating and issued a $33.33 price objective (up previously from $32.00) on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of C$38.10.
Brookfield Infrastructure Partners (NYSE:BIP) opened at 34.57 on Friday. Brookfield Infrastructure Partners has a 12-month low of $20.33 and a 12-month high of $49.89. The stock has a 50 day moving average of $37.18 and a 200 day moving average of $31.25. The firm has a market cap of $8.41 billion, a PE ratio of 38.63 and a beta of 0.93.
Brookfield Infrastructure Partners (NYSE:BIP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.77. Brookfield Infrastructure Partners had a net margin of 20.77% and a return on equity of 5.40%. The company had revenue of $462 million for the quarter, compared to the consensus estimate of $674.50 million. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post $1.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were paid a $0.59 dividend. The ex-dividend date was Monday, August 29th. This represents a $2.36 annualized dividend and a dividend yield of 6.83%. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. Brookfield Infrastructure Partners’s payout ratio is currently 175.75%.
Several hedge funds have recently added to or reduced their stakes in BIP. Bollard Group LLC raised its stake in Brookfield Infrastructure Partners by 1.2% in the second quarter. Bollard Group LLC now owns 2,348 shares of the company’s stock valued at $106,000 after buying an additional 28 shares in the last quarter. Optimum Investment Advisors bought a new stake in Brookfield Infrastructure Partners during the second quarter valued at $209,000. Stratos Wealth Partners LTD. bought a new stake in Brookfield Infrastructure Partners during the first quarter valued at $220,000. Advisor Group Inc. bought a new stake in Brookfield Infrastructure Partners during the second quarter valued at $228,000. Finally, KCG Holdings Inc. raised its stake in Brookfield Infrastructure Partners by 22.9% in the second quarter. KCG Holdings Inc. now owns 6,439 shares of the company’s stock valued at $291,000 after buying an additional 1,201 shares in the last quarter. Institutional investors own 29.78% 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. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.
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