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

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target upped by analysts at Scotiabank from $38.00 to $41.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s target price indicates a potential upside of 23.09% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. TD Securities upped their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Raymond James upped their price target on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.50.

Brookfield Infrastructure Partners Trading Up 2.1 %

NYSE BIP traded up $0.70 on Thursday, reaching $33.31. The company had a trading volume of 224,677 shares, compared to its average volume of 384,354. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 832.96 and a beta of 1.08. Brookfield Infrastructure Partners has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The business has a 50 day moving average of $32.44 and a two-hundred day moving average of $33.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. Analysts forecast that Brookfield Infrastructure Partners will post 3.45 EPS for the current year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Foundation Advisors increased its stake in Brookfield Infrastructure Partners by 1.7% in the 4th quarter. First Foundation Advisors now owns 84,556 shares of the utilities provider’s stock valued at $2,688,000 after buying an additional 1,400 shares during the last quarter. Scotia Capital Inc. increased its stake in Brookfield Infrastructure Partners by 2.7% in the 4th quarter. Scotia Capital Inc. now owns 6,432,381 shares of the utilities provider’s stock valued at $202,492,000 after buying an additional 171,748 shares during the last quarter. Bessemer Group Inc. increased its stake in Brookfield Infrastructure Partners by 9.7% in the 4th quarter. Bessemer Group Inc. now owns 38,256 shares of the utilities provider’s stock valued at $1,216,000 after buying an additional 3,371 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $22,033,000. Finally, Rathbones Group PLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $775,000. Hedge funds and other institutional investors 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.