RBC Capital Markets reiterated their outperform rating on shares of Brookfield Infrastructure Partners LP (NYSE:BIP) in a research report sent to investors on Monday morning. The brokerage currently has a $47.00 price target on the stock, up from their prior price target of $46.00.
Several other equities research analysts also recently issued reports on the company. Barclays PLC reaffirmed an equal weight rating and issued a $42.67 price target (up from $42.00) on shares of Brookfield Infrastructure Partners in a research report on Thursday, August 4th. Raymond James Financial Inc. downgraded Brookfield Infrastructure Partners from a strong-buy rating to an outperform rating and raised their price target for the company from $36.00 to $39.00 in a research report on Monday. TD Securities reaffirmed a buy rating and issued a $33.33 price target (up from $32.00) on shares of Brookfield Infrastructure Partners in a research report on Wednesday, July 6th. Credit Suisse Group AG reiterated a buy rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, September 20th. Finally, BMO Capital Markets reiterated a buy rating and issued a $35.33 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of C$38.10.
Brookfield Infrastructure Partners (NYSE:BIP) opened at 34.34 on Monday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 38.37 and a beta of 0.97. Brookfield Infrastructure Partners has a 12-month low of $20.33 and a 12-month high of $49.89. The stock’s 50 day moving average price is $37.11 and its 200 day moving average price is $31.07.
Brookfield Infrastructure Partners (NYSE:BIP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.77. The company had revenue of $462 million for the quarter, compared to the consensus estimate of $674.50 million. Brookfield Infrastructure Partners had a return on equity of 5.40% and a net margin of 20.77%. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post $1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.59 per share. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, August 29th. This represents a $2.36 dividend on an annualized basis and a yield of 6.87%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 175.75%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bollard Group LLC boosted its position in Brookfield Infrastructure Partners by 1.2% in the second quarter. Bollard Group LLC now owns 2,348 shares of the company’s stock worth $106,000 after buying an additional 28 shares during the period. Optimum Investment Advisors purchased a new position in Brookfield Infrastructure Partners during the second quarter worth about $209,000. Stratos Wealth Partners LTD. purchased a new position in Brookfield Infrastructure Partners during the first quarter worth about $220,000. Advisor Group Inc. purchased a new position in Brookfield Infrastructure Partners during the second quarter worth about $228,000. Finally, KCG Holdings Inc. boosted its position in Brookfield Infrastructure Partners by 22.9% in the second quarter. KCG Holdings Inc. now owns 6,439 shares of the company’s stock worth $291,000 after buying an additional 1,201 shares during the period. Hedge funds and other institutional investors own 29.78% of the company’s stock.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include Utilities, Transport, Energy, Communications Infrastructure and Other. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.
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