Brookfield Infrastructure Partners (NYSE:BIP) Price Target Increased to $55.00 by Analysts at TD Securities

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target lifted by TD Securities from $53.00 to $55.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other research firms have also commented on BIP. Bank of America increased their price target on Brookfield Infrastructure Partners from $47.00 to $51.00 and gave the company a buy rating in a research report on Monday, September 23rd. Barclays increased their price target on Brookfield Infrastructure Partners from $46.00 to $51.00 and gave the company an equal weight rating in a research report on Monday, September 30th. CIBC reissued a hold rating on shares of Brookfield Infrastructure Partners in a research report on Monday, September 30th. Raymond James set a $52.00 price target on Brookfield Infrastructure Partners and gave the company an outperform rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $53.00 price target (up from $50.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $49.91.

Shares of NYSE:BIP traded down $0.11 during trading on Friday, reaching $51.08. 313,950 shares of the stock were exchanged, compared to its average volume of 300,005. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 86.58, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. The stock has a fifty day moving average of $49.22 and a two-hundred day moving average of $45.16. Brookfield Infrastructure Partners has a 1-year low of $32.26 and a 1-year high of $51.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.45 and a quick ratio of 0.45.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.74). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Infrastructure Partners had a net margin of 4.27% and a return on equity of 1.82%. Brookfield Infrastructure Partners’s quarterly revenue was up 42.6% on a year-over-year basis. Sell-side analysts forecast that Brookfield Infrastructure Partners will post 3.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.502 dividend. The ex-dividend date is Thursday, November 28th. This represents a $2.01 dividend on an annualized basis and a yield of 3.93%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 340.68%.

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can grew its stake in Brookfield Infrastructure Partners by 6.5% in the 2nd quarter. Bank of Montreal Can now owns 18,008,806 shares of the utilities provider’s stock valued at $773,298,000 after purchasing an additional 1,097,680 shares during the period. CIBC Asset Management Inc grew its stake in Brookfield Infrastructure Partners by 10.6% in the 3rd quarter. CIBC Asset Management Inc now owns 3,519,734 shares of the utilities provider’s stock valued at $174,303,000 after purchasing an additional 336,013 shares during the period. Scotia Capital Inc. grew its stake in Brookfield Infrastructure Partners by 7.9% in the 2nd quarter. Scotia Capital Inc. now owns 2,259,396 shares of the utilities provider’s stock valued at $96,640,000 after purchasing an additional 164,790 shares during the period. Great West Life Assurance Co. Can grew its stake in Brookfield Infrastructure Partners by 9.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,847,860 shares of the utilities provider’s stock valued at $91,801,000 after purchasing an additional 161,062 shares during the period. Finally, Intact Investment Management Inc. grew its stake in Brookfield Infrastructure Partners by 10.0% in the 2nd quarter. Intact Investment Management Inc. now owns 1,146,200 shares of the utilities provider’s stock valued at $64,187,000 after purchasing an additional 103,900 shares during the period. Hedge funds and other institutional investors own 46.60% of the company’s stock.

About Brookfield Infrastructure Partners

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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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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