Brookfield Infrastructure Partners (BIP) Reaches New 1-Year High at $45.15

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) shares hit a new 52-week high on Wednesday . The stock traded as high as $45.15 and last traded at $44.05, with a volume of 330900 shares trading hands. The stock had previously closed at $43.88.

Several brokerages have weighed in on BIP. BMO Capital Markets downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Tuesday, August 22nd. Scotiabank reiterated an “outperform” rating and issued a $59.50 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, November 28th. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Royal Bank of Canada boosted their price target on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Finally, Credit Suisse Group began coverage on Brookfield Infrastructure Partners in a report on Monday, September 18th. They issued a “neutral” rating and a $44.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Brookfield Infrastructure Partners has a consensus rating of “Buy” and an average price target of $50.15.

The firm has a market capitalization of $12,131.69, a price-to-earnings ratio of 162.52, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.435 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.90%. Brookfield Infrastructure Partners’s payout ratio is 644.44%.

Brookfield Infrastructure Partners announced that its board has approved a share repurchase program on Tuesday, November 7th that permits the company to buyback 13,820,000 shares. This buyback authorization permits the utilities provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its holdings in shares of Brookfield Infrastructure Partners by 116.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 418,948 shares of the utilities provider’s stock worth $18,073,000 after buying an additional 225,258 shares during the last quarter. Institutional & Family Asset Management LLC increased its holdings in Brookfield Infrastructure Partners by 75.2% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 17,250 shares of the utilities provider’s stock valued at $744,000 after purchasing an additional 7,403 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at $208,000. Crestwood Advisors Group LLC increased its holdings in Brookfield Infrastructure Partners by 13.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 13,934 shares of the utilities provider’s stock valued at $601,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at $780,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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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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