Raymond James Issues Positive Forecast for Brookfield Infrastructure Partners (NYSE:BIP) Stock Price

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price hoisted by analysts at Raymond James from $44.00 to $46.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “strong-buy” rating on the utilities provider’s stock. Raymond James’ price objective points to a potential upside of 42.04% from the stock’s current price.

A number of other research analysts also recently commented on BIP. Jefferies Financial Group upped their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, TD Securities increased their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Brookfield Infrastructure Partners Stock Up 3.7 %

NYSE BIP traded up $1.17 on Tuesday, hitting $32.39. 282,834 shares of the stock traded hands, compared to its average volume of 309,303. The company has a market capitalization of $15.03 billion, a P/E ratio of -85.23 and a beta of 1.07. The stock has a 50-day moving average of $33.08 and a 200 day moving average of $32.78. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners has a twelve month low of $24.84 and a twelve month high of $36.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its position in shares of Brookfield Infrastructure Partners by 0.6% in the third quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock valued at $2,363,000 after acquiring an additional 389 shares during the period. Insight Folios Inc raised its holdings in Brookfield Infrastructure Partners by 3.2% in the 3rd quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 525 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Brookfield Infrastructure Partners by 3.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 18,068 shares of the utilities provider’s stock worth $496,000 after acquiring an additional 591 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Finally, Tacita Capital Inc raised its stake in shares of Brookfield Infrastructure Partners by 0.6% in the third quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider’s stock valued at $5,173,000 after purchasing an additional 837 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.