BidaskClub Downgrades Brookfield Infrastructure Partners LP (NYSE:BIP) to Buy

BidaskClub cut shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a strong-buy rating to a buy rating in a report released on Tuesday.

A number of other equities analysts also recently weighed in on the stock. Barclays PLC reissued an equal weight rating and set a $42.00 target price (up previously from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Sunday, April 23rd. Scotiabank lifted their target price on shares of Brookfield Infrastructure Partners from $39.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, May 5th. Royal Bank Of Canada reissued a buy rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research note on Friday, April 7th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a neutral rating to an outperform rating and lifted their target price for the stock from $40.00 to $44.00 in a research note on Friday, June 16th. Finally, Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $43.00 target price for the company in a research note on Tuesday, April 4th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $44.94.

Brookfield Infrastructure Partners (BIP) traded down 1.06% during mid-day trading on Tuesday, hitting $39.95. 106,381 shares of the company were exchanged. The company has a market capitalization of $10.37 billion, a P/E ratio of 43.80 and a beta of 1.12. Brookfield Infrastructure Partners has a 12-month low of $30.12 and a 12-month high of $41.55. The company’s 50-day moving average is $40.28 and its 200 day moving average is $37.37.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Friday, May 26th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 188.45%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its position in shares of 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. Sentry Investments Corp. boosted its position in shares of Brookfield Infrastructure Partners by 4.2% in the first quarter. Sentry Investments Corp. now owns 4,421,590 shares of the utilities provider’s stock worth $170,983,000 after buying an additional 176,900 shares in the last quarter. Partners Value Investments LP acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter worth about $128,693,000. Montrusco Bolton Investments Inc. boosted its position in shares of Brookfield Infrastructure Partners by 46.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,812,319 shares of the utilities provider’s stock worth $69,903,000 after buying an additional 574,812 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Brookfield Infrastructure Partners by 15.9% in the first quarter. Bank of America Corp DE now owns 1,342,832 shares of the utilities provider’s stock worth $51,927,000 after buying an additional 184,597 shares in the last quarter. Hedge funds and other institutional investors own 34.57% 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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