Brookfield Infrastructure Partners (BIP) PT Set at $46.75 by Scotiabank

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) has been assigned a $46.75 target price by research analysts at Scotiabank in a report released on Monday. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target suggests a potential upside of 15.32% from the stock’s current price.

A number of other research firms have also recently weighed in on BIP. Zacks Investment Research raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 27th. BMO Capital Markets set a $47.00 price target on Brookfield Infrastructure Partners and gave the company a “buy” rating in a report on Friday. National Bank Financial cut their price target on Brookfield Infrastructure Partners from $48.00 to $46.50 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Royal Bank of Canada lifted their price target on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Brookfield Infrastructure Partners has a consensus rating of “Buy” and an average target price of $48.63.

Brookfield Infrastructure Partners (NYSE:BIP) traded up $0.03 on Monday, hitting $40.54. The stock had a trading volume of 246,163 shares, compared to its average volume of 404,850. The company has a market capitalization of $15,610.00, a PE ratio of 1,014.50, a PEG ratio of 0.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. Brookfield Infrastructure Partners has a 52 week low of $35.30 and a 52 week high of $46.88.

Brookfield Infrastructure Partners declared that its board has approved a share buyback plan on Tuesday, November 7th that authorizes the company to buyback 13,820,000 outstanding shares. This buyback authorization authorizes the utilities provider to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter valued at approximately $109,000. Waldron LP acquired a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $201,000. Mariner Wealth Advisors LLC acquired a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $202,000. Stanley Laman Group Ltd. acquired a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $202,000. Finally, Cetera Advisor Networks LLC acquired a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 45.81% of the company’s stock.

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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. 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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