Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $46.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.55% from the company’s previous close.
According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “
Several other research analysts have also commented on BIP. Scotiabank lifted their target price on Brookfield Infrastructure Partners from C$37.75 to C$52.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a research report on Friday, April 7th. Barclays PLC reiterated an “equal weight” rating and issued a $42.00 target price (up previously from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Sunday, April 23rd. Raymond James Financial, Inc. lifted their target price on Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, June 5th. Finally, BidaskClub lowered Brookfield Infrastructure Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and an average price target of $45.43.
Brookfield Infrastructure Partners (BIP) traded down 0.83% during midday trading on Tuesday, hitting $40.51. The stock had a trading volume of 197,272 shares. The company has a 50-day moving average price of $39.98 and a 200-day moving average price of $36.94. Brookfield Infrastructure Partners has a 12-month low of $27.79 and a 12-month high of $41.33. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 44.42 and a beta of 1.13.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.74 dividend on an annualized basis and a yield of 4.30%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 188.45%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 in the last quarter. Schneider Downs Wealth Management Advisors LP bought a new position in Brookfield Infrastructure Partners during the first quarter worth about $377,000. Bank of Montreal Can raised its position in Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock worth $540,437,000 after buying an additional 2,947,311 shares in the last quarter. Nexus Investment Management Inc. raised its position in Brookfield Infrastructure Partners by 2.2% in the first quarter. Nexus Investment Management Inc. now owns 671,674 shares of the utilities provider’s stock worth $25,937,000 after buying an additional 14,475 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 34.61% of the company’s stock.
Brookfield Infrastructure Partners Company Profile
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).
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