Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) had its target price hoisted by National Bank Financial from $46.00 to $48.00 in a research note released on Monday morning. The brokerage currently has an outperform rating on the utilities provider’s stock. National Bank Financial also issued estimates for Brookfield Infrastructure Partners’ Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.12 EPS and FY2018 earnings at $3.91 EPS.
Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of Brookfield Infrastructure Partners from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a buy rating to a hold rating in a research note on Tuesday, August 8th. TD Securities increased their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a buy rating in a research note on Monday, September 18th. Credit Suisse Group began coverage on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. They issued a neutral rating and a $44.00 price target for the company. Finally, Scotiabank reissued an outperform rating and issued a $53.00 price target on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $48.88.
Shares of Brookfield Infrastructure Partners (NYSE BIP) traded down $0.38 during trading hours on Monday, reaching $43.21. 79,765 shares of the company traded hands, compared to its average volume of 254,098. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $44.91. The stock has a market capitalization of $14,956.78, a price-to-earnings ratio of 160.33, a PEG ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.07.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a yield of 4.03%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 644.44%.
Brookfield Infrastructure Partners announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 7th that authorizes the company to repurchase 13,820,000 outstanding shares. This repurchase authorization authorizes the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several large investors have recently modified their holdings of the business. TD Asset Management Inc. grew its stake in shares of Brookfield Infrastructure Partners by 13.6% in the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after buying an additional 1,183,668 shares in the last quarter. New England Private Wealth Advisors LLC grew its stake in shares of Brookfield Infrastructure Partners by 10.3% in the 3rd quarter. New England Private Wealth Advisors LLC now owns 21,500 shares of the utilities provider’s stock worth $927,000 after buying an additional 2,000 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Brookfield Infrastructure Partners by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 61,973 shares of the utilities provider’s stock worth $2,673,000 after purchasing an additional 1,156 shares during the period. Kayne Anderson Capital Advisors LP purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth about $861,000. Finally, Mawer Investment Management Ltd. purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth about $315,000. 33.72% of the stock is owned by institutional investors and hedge funds.
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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