Equities researchers at Barclays began coverage on shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $46.00 price target on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 6.53% from the stock’s previous close.
Other research analysts have also issued research reports about the company. National Bank Financial reduced their price target on Canadian Tire from C$170.00 to C$169.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Raymond James reissued a “hold” rating on shares of Snc-Lavalin Group in a research note on Wednesday, July 3rd. Credit Suisse Group reissued a “hold” rating and issued a $32.00 price objective on shares of CRH in a research note on Thursday, April 25th. Industrial Alliance Securities boosted their price objective on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and a consensus target price of $46.11.
Shares of BIP stock opened at $43.18 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.93. Brookfield Infrastructure Partners has a 1 year low of $32.26 and a 1 year high of $44.74. The stock’s fifty day simple moving average is $42.69. The firm has a market cap of $15.18 billion, a price-to-earnings ratio of 366.25, a PEG ratio of 1.06 and a beta of 0.91.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. Brookfield Infrastructure Partners had a return on equity of 1.71% and a net margin of 4.24%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $954.88 million. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, analysts predict that Brookfield Infrastructure Partners will post 3.48 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Nexus Investment Management Inc. grew its stake in Brookfield Infrastructure Partners by 0.6% in the second quarter. Nexus Investment Management Inc. now owns 686,999 shares of the utilities provider’s stock valued at $29,445,000 after purchasing an additional 3,988 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Brookfield Infrastructure Partners by 80.9% in the first quarter. Belpointe Asset Management LLC now owns 16,136 shares of the utilities provider’s stock valued at $675,000 after purchasing an additional 7,218 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in Brookfield Infrastructure Partners in the first quarter valued at about $261,000. KC Investment Advisors LLC grew its stake in Brookfield Infrastructure Partners by 5.0% in the first quarter. KC Investment Advisors LLC now owns 7,600 shares of the utilities provider’s stock valued at $318,000 after purchasing an additional 360 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Brookfield Infrastructure Partners by 9.9% in the first quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock valued at $192,749,000 after purchasing an additional 413,425 shares in the last quarter. 38.94% of the stock is currently owned by institutional investors.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The 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 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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