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 on Monday.
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. “
Several other brokerages have also weighed in on BIP. Credit Suisse Group restated a “hold” rating and issued a $44.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 27th. Raymond James Financial increased their price objective on shares of Brookfield Infrastructure Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. BMO Capital Markets set a $47.00 price objective on shares of Brookfield Infrastructure Partners and gave the company a “buy” rating in a report on Friday, February 9th. Scotiabank set a $46.75 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Finally, National Bank Financial cut their price objective on shares of Brookfield Infrastructure Partners from $48.00 to $46.50 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and a consensus target price of $47.20.
Shares of BIP stock traded down $0.06 during trading hours on Monday, reaching $41.14. 159,469 shares of the company were exchanged, compared to its average volume of 335,686. Brookfield Infrastructure Partners has a fifty-two week low of $37.54 and a fifty-two week high of $46.88. The firm has a market capitalization of $14,234.68, a price-to-earnings ratio of 27.25, a PEG ratio of 1.17 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.75.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.46). Brookfield Infrastructure Partners had a net margin of 1.95% and a return on equity of 1.29%. The business had revenue of $984.00 million during the quarter, compared to analyst estimates of $942.00 million. equities research analysts forecast that Brookfield Infrastructure Partners will post 3.53 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Brookfield Infrastructure Partners by 13.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,635 shares of the utilities provider’s stock worth $477,000 after purchasing an additional 1,259 shares during the period. Keybank National Association OH raised its holdings in Brookfield Infrastructure Partners by 5.7% in the fourth quarter. Keybank National Association OH now owns 24,009 shares of the utilities provider’s stock worth $1,076,000 after purchasing an additional 1,284 shares during the period. Kings Point Capital Management raised its holdings in Brookfield Infrastructure Partners by 1.8% in the fourth quarter. Kings Point Capital Management now owns 77,342 shares of the utilities provider’s stock worth $3,466,000 after purchasing an additional 1,386 shares during the period. American Asset Management Inc. raised its holdings in Brookfield Infrastructure Partners by 29.3% in the fourth quarter. American Asset Management Inc. now owns 7,060 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 1,600 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Brookfield Infrastructure Partners by 4.4% in the fourth quarter. Bank of New York Mellon Corp now owns 46,526 shares of the utilities provider’s stock worth $2,085,000 after purchasing an additional 1,970 shares during the period. Institutional investors own 37.59% of the company’s stock.
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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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