Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) received a $53.00 target price from research analysts at BMO Capital Markets in a research report issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 6.83% from the stock’s current price.
A number of other analysts also recently weighed in on the stock. Raymond James set a $52.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Credit Suisse Group set a $48.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “hold” rating in a report on Monday, September 9th. CIBC reaffirmed a “hold” rating on shares of Brookfield Infrastructure Partners in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Brookfield Infrastructure Partners in a report on Friday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $48.92.
Shares of Brookfield Infrastructure Partners stock traded up $0.56 on Friday, reaching $49.61. 454,711 shares of the stock were exchanged, compared to its average volume of 307,163. The firm’s 50 day moving average is $46.59 and its 200-day moving average is $43.34. Brookfield Infrastructure Partners has a one year low of $32.26 and a one year high of $49.99. The firm has a market cap of $13.80 billion, a PE ratio of 84.08, a P/E/G ratio of 1.10 and a beta of 0.85.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. Brookfield Infrastructure Partners had a net margin of 3.32% and a return on equity of 1.40%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm’s quarterly revenue was up 61.4% on a year-over-year basis. As a group, research analysts predict that Brookfield Infrastructure Partners will post 3.43 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in BIP. Advisor Group Inc. increased its stake in shares of Brookfield Infrastructure Partners by 29.9% in the first quarter. Advisor Group Inc. now owns 26,011 shares of the utilities provider’s stock worth $1,089,000 after purchasing an additional 5,989 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Brookfield Infrastructure Partners by 63.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 93,613 shares of the utilities provider’s stock valued at $3,920,000 after purchasing an additional 36,174 shares during the period. Financial Counselors Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter worth about $261,000. Bridgecreek Investment Management LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter worth about $2,710,000. Finally, FIL Ltd grew its position in shares of Brookfield Infrastructure Partners by 8.1% in the 1st quarter. FIL Ltd now owns 766,965 shares of the utilities provider’s stock worth $32,031,000 after buying an additional 57,300 shares during the period. Institutional investors and hedge funds own 46.37% of the company’s stock.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
Featured Story: What is intrinsic value?
Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.