Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “
BIP has been the subject of several other reports. Credit Suisse Group set a $46.00 price objective on Brookfield Infrastructure Partners and gave the stock a “buy” rating in a report on Tuesday, November 13th. Citigroup dropped their price objective on Brookfield Infrastructure Partners from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, November 29th. Finally, Raymond James reissued an “outperform” rating and set a $49.00 price objective on shares of Brookfield Infrastructure Partners in a report on Friday, February 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and an average price target of $45.72.
Shares of NYSE:BIP opened at $41.72 on Wednesday. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 70.71, a PEG ratio of 1.18 and a beta of 1.05. Brookfield Infrastructure Partners has a 1-year low of $32.26 and a 1-year high of $42.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.31.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, February 6th. The utilities provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $870.84 million. Brookfield Infrastructure Partners had a return on equity of 2.82% and a net margin of 7.46%. The company’s quarterly revenue was up 45.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, sell-side analysts expect that Brookfield Infrastructure Partners will post 3.52 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at about $612,000. Princeton Global Asset Management LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at about $83,000. Advisory Services Network LLC increased its stake in shares of Brookfield Infrastructure Partners by 109.4% in the 4th quarter. Advisory Services Network LLC now owns 2,639 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 1,379 shares during the last quarter. CI Investments Inc. increased its stake in shares of Brookfield Infrastructure Partners by 15.8% in the 4th quarter. CI Investments Inc. now owns 2,239,042 shares of the utilities provider’s stock valued at $77,314,000 after acquiring an additional 304,892 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Brookfield Infrastructure Partners by 3.8% in the 4th quarter. Bank of America Corp DE now owns 1,530,655 shares of the utilities provider’s stock valued at $52,854,000 after acquiring an additional 55,968 shares during the last quarter. 38.60% of the stock is owned by 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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