BidaskClub Upgrades Brookfield Infrastructure Partners LP (NYSE:BIP) to “Buy”

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other analysts have also recently weighed in on BIP. TD Securities lifted their price target on Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank lifted their price target on Brookfield Infrastructure Partners from $42.50 to $43.50 and gave the stock an “outperform” rating in a report on Friday, August 4th. Zacks Investment Research raised Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Monday. Royal Bank Of Canada lifted their price target on Brookfield Infrastructure Partners from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, CSFB raised Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $44.00 in a report on Friday, June 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $45.72.

Brookfield Infrastructure Partners (BIP) traded up 0.19% during mid-day trading on Friday, hitting $42.53. The stock had a trading volume of 106,198 shares. The stock’s 50 day moving average price is $40.78 and its 200 day moving average price is $38.75. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 93.47 and a beta of 1.11. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $43.48.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. The business had revenue of $934 million during the quarter, compared to analyst estimates of $768 million. Analysts forecast that Brookfield Infrastructure Partners will post $1.24 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of BIP. Renaissance Technologies LLC bought a new position in Brookfield Infrastructure Partners during the fourth quarter worth approximately $1,533,000. Creative Planning raised its position in Brookfield Infrastructure Partners by 53.2% in the first quarter. Creative Planning now owns 28,078 shares of the utilities provider’s stock worth $1,086,000 after buying an additional 9,754 shares during the period. Winslow Evans & Crocker Inc. raised its position in Brookfield Infrastructure Partners by 567.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 9,574 shares of the utilities provider’s stock worth $370,000 after buying an additional 8,140 shares during the period. Bollard Group LLC raised its position in Brookfield Infrastructure Partners by 1.1% in the first quarter. Bollard Group LLC now owns 3,643 shares of the utilities provider’s stock worth $141,000 after buying an additional 40 shares during the period. Finally, Crestwood Advisors Group LLC raised its position in Brookfield Infrastructure Partners by 36.4% in the first quarter. Crestwood Advisors Group LLC now owns 11,250 shares of the utilities provider’s stock worth $435,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 34.06% 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. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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