Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target reduced by Wells Fargo & Co from $46.00 to $44.00 in a report issued on Monday. Wells Fargo & Co currently has an outperform rating on the utilities provider’s stock.
Several other research firms have also commented on BIP. ValuEngine lowered Brookfield Infrastructure Partners from a hold rating to a sell rating in a research report on Thursday, August 9th. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a sell rating to a hold rating in a research report on Monday, October 1st. Royal Bank of Canada lifted their price target on Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday, August 3rd. Bank of America began coverage on Brookfield Infrastructure Partners in a research report on Tuesday, July 10th. They set a buy rating for the company. Finally, Citigroup set a $43.00 target price on Brookfield Infrastructure Partners and gave the company a neutral rating in a research report on Monday, August 27th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $46.27.
BIP opened at $40.23 on Monday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.28 and a beta of 0.96. Brookfield Infrastructure Partners has a 12 month low of $36.84 and a 12 month high of $46.88.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Friday, November 2nd. The utilities provider reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.82). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $795.00 million. Brookfield Infrastructure Partners had a return on equity of 3.54% and a net margin of 8.22%. As a group, analysts expect that Brookfield Infrastructure Partners will post 3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, November 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 4.67%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 124.50%.
Several large investors have recently made changes to their positions in the business. Timber Hill LLC purchased a new position in shares of Brookfield Infrastructure Partners during the third quarter valued at approximately $235,000. Toronto Dominion Bank boosted its position in shares of Brookfield Infrastructure Partners by 7.1% during the third quarter. Toronto Dominion Bank now owns 4,059,688 shares of the utilities provider’s stock valued at $162,059,000 after buying an additional 270,140 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Brookfield Infrastructure Partners by 43.8% during the third quarter. JPMorgan Chase & Co. now owns 25,454 shares of the utilities provider’s stock valued at $1,015,000 after buying an additional 7,754 shares during the period. Parametrica Management Ltd bought a new stake in shares of Brookfield Infrastructure Partners during the third quarter valued at approximately $330,000. Finally, Cannell Peter B & Co. Inc. raised its stake in shares of Brookfield Infrastructure Partners by 10.0% during the third quarter. Cannell Peter B & Co. Inc. now owns 158,839 shares of the utilities provider’s stock valued at $6,334,000 after acquiring an additional 14,500 shares in the last quarter. Institutional investors and hedge funds own 47.42% of the company’s stock.
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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