Brookfield Infrastructure Partners (NYSE:BIP) Lowered to Underperform at Credit Suisse Group

Credit Suisse Group downgraded shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a neutral rating to an underperform rating in a research report released on Wednesday, 24/7 WallStreet reports. The brokerage currently has $40.00 price target on the utilities provider’s stock.

Several other analysts have also recently issued reports on the stock. National Bank Financial upped their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the company an outperform rating in a research note on Thursday, April 30th. Citigroup assumed coverage on shares of Brookfield Infrastructure Partners in a research note on Thursday, June 18th. They issued a neutral rating and a $41.00 price target for the company. Raymond James cut shares of Brookfield Infrastructure Partners from a strong-buy rating to an outperform rating and dropped their price target for the company from $55.00 to $50.00 in a research note on Tuesday, May 12th. ValuEngine cut shares of Brookfield Infrastructure Partners from a hold rating to a sell rating in a research note on Friday, May 1st. Finally, BMO Capital Markets increased their price target on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the company an outperform rating in a research note on Monday, May 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Brookfield Infrastructure Partners presently has an average rating of Buy and a consensus price target of $49.55.

Shares of NYSE BIP opened at $41.84 on Wednesday. Brookfield Infrastructure Partners has a 12-month low of $25.77 and a 12-month high of $56.31. The stock has a market cap of $12.28 billion, a PE ratio of 167.36 and a beta of 1.01. The company has a 50-day moving average of $41.61 and a 200 day moving average of $43.98.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.74). Brookfield Infrastructure Partners had a net margin of 4.54% and a return on equity of 1.87%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm’s revenue was up 37.9% on a year-over-year basis. On average, research analysts anticipate that Brookfield Infrastructure Partners will post 2.97 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 39,856 shares of the utilities provider’s stock worth $1,992,000 after acquiring an additional 226 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 1.7% in the 2nd quarter. Sigma Planning Corp now owns 17,268 shares of the utilities provider’s stock worth $710,000 after acquiring an additional 283 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,384 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 313 shares during the last quarter. Ameritas Investment Company LLC lifted its holdings in Brookfield Infrastructure Partners by 2.4% during the 1st quarter. Ameritas Investment Company LLC now owns 13,861 shares of the utilities provider’s stock worth $498,000 after buying an additional 326 shares in the last quarter. Finally, Hudock Inc. lifted its holdings in Brookfield Infrastructure Partners by 6.0% during the 1st quarter. Hudock Inc. now owns 5,803 shares of the utilities provider’s stock worth $208,000 after buying an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 48.29% 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.

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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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