Brookfield Infrastructure Partners (BIP) PT Raised to $51.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price hoisted by investment analysts at Raymond James Financial from $48.00 to $51.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the utilities provider’s stock. Raymond James Financial’s price target suggests a potential upside of 24.69% from the stock’s previous close.

Several other equities research analysts have also recently commented on BIP. Royal Bank of Canada boosted their price target on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. National Bank Financial boosted their price target on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Scotiabank boosted their price target on Brookfield Infrastructure Partners from $43.50 to $46.75 and gave the company an “outperform” rating in a research note on Monday, November 6th. Zacks Investment Research cut Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a research note on Wednesday, December 27th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.23.

Shares of Brookfield Infrastructure Partners (BIP) traded up $0.26 during midday trading on Tuesday, hitting $40.90. The company had a trading volume of 349,573 shares, compared to its average volume of 407,562. The company has a market cap of $15,760.00, a PE ratio of 1,022.50, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. Brookfield Infrastructure Partners has a 1-year low of $35.30 and a 1-year high of $46.88. 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 announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 7th that authorizes the company to buyback 13,820,000 shares. This buyback authorization authorizes the utilities provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of institutional investors have recently made changes to their positions in BIP. The Manufacturers Life Insurance Company boosted its position in Brookfield Infrastructure Partners by 73.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,727,514 shares of the utilities provider’s stock worth $167,030,000 after purchasing an additional 1,577,649 shares during the period. Atlantic Trust Group LLC boosted its position in Brookfield Infrastructure Partners by 10,420.1% during the third quarter. Atlantic Trust Group LLC now owns 1,420,635 shares of the utilities provider’s stock worth $61,287,000 after purchasing an additional 1,407,131 shares during the period. TD Asset Management Inc. boosted its position in Brookfield Infrastructure Partners by 13.6% during the third quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after purchasing an additional 1,183,668 shares during the period. Picton Mahoney Asset Management boosted its position in Brookfield Infrastructure Partners by 3,652.2% during the fourth quarter. Picton Mahoney Asset Management now owns 776,700 shares of the utilities provider’s stock worth $43,789,000 after purchasing an additional 756,000 shares during the period. Finally, CIBC World Markets Inc. boosted its position in Brookfield Infrastructure Partners by 68.2% during the fourth quarter. CIBC World Markets Inc. now owns 1,396,350 shares of the utilities provider’s stock worth $62,570,000 after purchasing an additional 566,112 shares during the period. 45.81% of the stock is owned by hedge funds and other institutional investors.

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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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