Citigroup Cuts Brookfield Infrastructure Partners (NYSE:BIP) Price Target to $31.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective reduced by Citigroup from $34.00 to $31.00 in a research report report published on Thursday morning,BayStreet.CA reports. They currently have a neutral rating on the utilities provider’s stock.

Several other equities analysts have also commented on BIP. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Raymond James increased their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. Scotiabank boosted their price target on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $41.67.

Brookfield Infrastructure Partners Trading Up 2.8 %

Shares of BIP opened at $30.95 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. The stock has a 50-day moving average price of $29.15 and a 200 day moving average price of $31.93. The company has a market capitalization of $14.37 billion, a P/E ratio of 773.94 and a beta of 1.07. Brookfield Infrastructure Partners has a one year low of $25.72 and a one year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the business earned $0.78 EPS. Sell-side analysts forecast that Brookfield Infrastructure Partners will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -8,600.00%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several institutional investors have recently bought and sold shares of BIP. Promus Capital LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter worth about $26,000. Compass Planning Associates Inc bought a new stake in Brookfield Infrastructure Partners during the fourth quarter worth approximately $28,000. Larson Financial Group LLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter worth approximately $30,000. Wingate Wealth Advisors Inc. bought a new position in Brookfield Infrastructure Partners during the 4th quarter valued at $32,000. Finally, North Capital Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.