National Bank Financial Lowers Brookfield Infrastructure Partners (BIP) Price Target to $46.50

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price lowered by equities research analysts at National Bank Financial from $48.00 to $46.50 in a report issued on Wednesday. The firm presently has an “outperform” rating on the utilities provider’s stock. National Bank Financial’s price target would indicate a potential upside of 14.79% from the stock’s previous close.

A number of other brokerages have also recently weighed in on BIP. Scotiabank set a $46.75 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Tuesday, January 2nd. Credit Suisse Group restated a “hold” rating and issued a $44.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 27th. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Finally, Royal Bank of Canada upped their price objective on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.63.

Shares of Brookfield Infrastructure Partners (BIP) traded up $0.11 on Wednesday, reaching $40.51. 558,184 shares of the company’s stock were exchanged, compared to its average volume of 405,023. The stock has a market capitalization of $15,590.00, a PE ratio of 1,012.75, a PEG ratio of 0.99 and a beta of 0.94. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.61. Brookfield Infrastructure Partners has a twelve month low of $35.30 and a twelve month high of $46.88.

Brookfield Infrastructure Partners declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 7th that permits the company to repurchase 13,820,000 outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Brookfield Infrastructure Partners by 29.7% during the second quarter. Bank of New York Mellon Corp now owns 44,995 shares of the utilities provider’s stock valued at $1,841,000 after purchasing an additional 10,296 shares during the period. Ameriprise Financial Inc. lifted its position in Brookfield Infrastructure Partners by 100.2% during the second quarter. Ameriprise Financial Inc. now owns 18,135 shares of the utilities provider’s stock valued at $742,000 after purchasing an additional 9,076 shares during the period. Citigroup Inc. lifted its position in Brookfield Infrastructure Partners by 1.4% during the second quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 100 shares during the period. Advisor Group Inc. lifted its position in Brookfield Infrastructure Partners by 25.7% during the second quarter. Advisor Group Inc. now owns 17,401 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 3,562 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Brookfield Infrastructure Partners during the second quarter valued at approximately $357,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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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).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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