Brookfield Infrastructure Partners LP (NYSE:BIP) Receives $40.88 Average Target Price from Brokerages

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $40.8750.

BIP has been the topic of a number of research analyst reports. Jefferies Financial Group set a $37.00 price target on Brookfield Infrastructure Partners and gave the company a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a report on Monday. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Friday, September 26th. Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Finally, Morgan Stanley set a $44.00 target price on Brookfield Infrastructure Partners in a report on Tuesday, December 2nd.

Institutional Trading of Brookfield Infrastructure Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in Brookfield Infrastructure Partners by 10.1% in the 3rd quarter. Principal Financial Group Inc. now owns 31,975,602 shares of the utilities provider’s stock worth $1,051,678,000 after buying an additional 2,933,287 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Brookfield Infrastructure Partners by 3.4% in the third quarter. Bank of Montreal Can now owns 28,289,627 shares of the utilities provider’s stock worth $930,446,000 after acquiring an additional 926,167 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Brookfield Infrastructure Partners by 9.1% during the third quarter. CIBC Asset Management Inc now owns 7,969,421 shares of the utilities provider’s stock valued at $262,303,000 after purchasing an additional 667,730 shares during the last quarter. Scotia Capital Inc. lifted its position in Brookfield Infrastructure Partners by 6.2% during the third quarter. Scotia Capital Inc. now owns 7,367,383 shares of the utilities provider’s stock valued at $241,967,000 after purchasing an additional 431,557 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Brookfield Infrastructure Partners by 2.2% in the third quarter. TD Asset Management Inc now owns 6,756,827 shares of the utilities provider’s stock worth $222,701,000 after purchasing an additional 143,380 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 0.7%

Shares of NYSE:BIP opened at $34.96 on Wednesday. The stock has a market capitalization of $16.20 billion, a P/E ratio of 52.17 and a beta of 1.09. The stock’s 50-day moving average price is $34.88 and its 200-day moving average price is $33.00. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.68. Brookfield Infrastructure Partners has a 12-month low of $25.72 and a 12-month high of $36.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Friday, November 7th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.42). The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 3.70% and a return on equity of 2.74%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s payout ratio is currently 256.72%.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.