Credit Suisse Group set a $46.00 price objective on Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research note released on Friday. The firm currently has a buy rating on the utilities provider’s stock.
A number of other brokerages also recently weighed in on BIP. Royal Bank of Canada lifted their price target on Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the company an outperform rating in a report on Friday, August 3rd. ValuEngine downgraded Brookfield Infrastructure Partners from a hold rating to a sell rating in a report on Thursday, August 9th. Bank of America assumed coverage on Brookfield Infrastructure Partners in a report on Tuesday, July 10th. They set a buy rating on the stock. Citigroup set a $43.00 price target on Brookfield Infrastructure Partners and gave the company a neutral rating in a report on Monday, August 27th. Finally, Zacks Investment Research upgraded Brookfield Infrastructure Partners from a sell rating to a hold rating in a report on Monday, October 1st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $46.27.
Shares of BIP stock opened at $39.50 on Friday. Brookfield Infrastructure Partners has a 1-year low of $36.84 and a 1-year high of $46.88. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.84. The firm has a market cap of $10.75 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.24 and a beta of 0.96.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Friday, November 2nd. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.82). Brookfield Infrastructure Partners had a net margin of 8.22% and a return on equity of 3.45%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $795.00 million. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post 3.12 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Brookfield Infrastructure Partners by 2.0% during the first quarter. Principal Financial Group Inc. now owns 9,053,134 shares of the utilities provider’s stock valued at $376,968,000 after purchasing an additional 178,462 shares during the last quarter. Toronto Dominion Bank boosted its position in Brookfield Infrastructure Partners by 21.2% during the second quarter. Toronto Dominion Bank now owns 3,789,548 shares of the utilities provider’s stock valued at $145,379,000 after purchasing an additional 661,924 shares during the last quarter. CIBC World Markets Inc. boosted its position in Brookfield Infrastructure Partners by 3.0% during the second quarter. CIBC World Markets Inc. now owns 2,199,530 shares of the utilities provider’s stock valued at $84,462,000 after purchasing an additional 63,515 shares during the last quarter. Fiera Capital Corp boosted its position in Brookfield Infrastructure Partners by 0.3% during the second quarter. Fiera Capital Corp now owns 2,193,229 shares of the utilities provider’s stock valued at $84,159,000 after purchasing an additional 6,638 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Brookfield Infrastructure Partners by 72.7% during the third quarter. CIBC Asset Management Inc now owns 2,140,567 shares of the utilities provider’s stock valued at $85,397,000 after purchasing an additional 901,237 shares during the last quarter. 47.42% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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