Zacks Investment Research Upgrades Brookfield Infrastructure Partners LP (BIP) to Buy
Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $47.00 price target on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.02% from the stock’s previous close.
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 BIP. Scotiabank increased their price objective on Brookfield Infrastructure Partners from $42.50 to $43.50 and gave the company an “outperform” rating in a research report on Friday, August 4th. TD Securities lifted their target price on Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada boosted their target price on Brookfield Infrastructure Partners from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. BidaskClub raised Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Finally, CSFB raised Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and upped their price target for the company from $40.00 to $44.00 in a research note on Friday, June 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $49.44.
Shares of Brookfield Infrastructure Partners (NYSE BIP) traded up 0.90% on Tuesday, reaching $42.72. The company had a trading volume of 284,377 shares. The company has a 50-day moving average price of $43.28 and a 200-day moving average price of $40.72. The firm has a market cap of $11.10 billion, a P/E ratio of 93.89 and a beta of 1.08. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $44.91.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.86). Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. The company had revenue of $934.00 million during the quarter, compared to analyst estimates of $768.00 million. On average, analysts expect that Brookfield Infrastructure Partners will post $1.33 earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Brookfield Infrastructure Partners by 58.9% during the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after purchasing an additional 1,932,672 shares during the period. CIBC World Markets Inc. bought a new stake in Brookfield Infrastructure Partners in the second quarter valued at about $57,006,000. Janus Henderson Group PLC bought a new stake in Brookfield Infrastructure Partners in the second quarter valued at about $51,505,000. Arthur M. Cohen & Associates LLC increased its holdings in Brookfield Infrastructure Partners by 4,017.0% in the second quarter. Arthur M. Cohen & Associates LLC now owns 475,801 shares of the utilities provider’s stock valued at $11,557,000 after purchasing an additional 464,244 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Brookfield Infrastructure Partners by 15.9% in the first quarter. Bank of America Corp DE now owns 1,342,832 shares of the utilities provider’s stock valued at $51,927,000 after purchasing an additional 184,597 shares during the last quarter. Institutional investors and hedge funds own 33.54% of the company’s stock.
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. 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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