Brookfield Infrastructure Partners LP (BIP) Stock Rating Reaffirmed by Credit Suisse Group AG
Brookfield Infrastructure Partners LP (NYSE:BIP)‘s stock had its “buy” rating reiterated by analysts at Credit Suisse Group AG in a note issued to investors on Tuesday. They currently have a $40.00 price objective on the stock.
A number of other analysts have also recently issued reports on BIP. BMO Capital Markets reissued a “buy” rating and issued a $35.33 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, June 28th. Zacks Investment Research cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. TD Securities reissued a “buy” rating and issued a $33.33 target price (up from $32.00) on shares of Brookfield Infrastructure Partners in a research report on Wednesday, July 6th. Royal Bank Of Canada upped their target price on Brookfield Infrastructure Partners from $32.67 to $35.33 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $35.33 price objective (up from $32.67) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$35.77.
Shares of Brookfield Infrastructure Partners (NYSE:BIP) opened at 33.97 on Tuesday. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 37.96 and a beta of 0.97. Brookfield Infrastructure Partners has a one year low of $20.33 and a one year high of $49.89. The firm has a 50-day moving average price of $36.69 and a 200 day moving average price of $30.67.
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Brookfield Infrastructure Partners (NYSE:BIP) last announced its earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.77. The firm earned $462 million during the quarter, compared to analysts’ expectations of $674.50 million. Brookfield Infrastructure Partners had a return on equity of 5.40% and a net margin of 20.77%. Equities analysts forecast that Brookfield Infrastructure Partners will post $0.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.95%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 175.75%.
Several institutional investors have recently modified their holdings of the company. Wealthsource Partners LLC acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter worth about $504,000. Sentry Investments Corp. increased its position in shares of Brookfield Infrastructure Partners by 221.9% in the first quarter. Sentry Investments Corp. now owns 2,093,336 shares of the company’s stock worth $88,192,000 after buying an additional 1,443,080 shares during the period. Bank of Nova Scotia Trust Co. increased its position in shares of Brookfield Infrastructure Partners by 2.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 37,710 shares of the company’s stock worth $1,589,000 after buying an additional 1,049 shares during the period. Scotia Capital Inc. increased its position in shares of Brookfield Infrastructure Partners by 4.3% in the first quarter. Scotia Capital Inc. now owns 525,825 shares of the company’s stock worth $22,133,000 after buying an additional 21,533 shares during the period. Finally, UBS Group AG increased its position in shares of Brookfield Infrastructure Partners by 16.8% in the first quarter. UBS Group AG now owns 130,099 shares of the company’s stock worth $5,481,000 after buying an additional 18,692 shares during the period. 44.67% of the stock is owned by institutional investors and hedge funds.
Brookfield Infrastructure Partners Company Profile
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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