Brookfield Infrastructure Partners (NYSE:BIP) Price Target Raised to $39.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price upped by Jefferies Financial Group from $35.00 to $39.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

BIP has been the subject of a number of other research reports. StockNews.com upgraded Brookfield Infrastructure Partners from a sell rating to a hold rating in a report on Sunday, September 15th. Cibc World Mkts raised Brookfield Infrastructure Partners to a strong-buy rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of Moderate Buy and an average target price of $38.50.

Brookfield Infrastructure Partners Stock Down 0.6 %

BIP stock opened at $34.27 on Monday. Brookfield Infrastructure Partners has a 1-year low of $21.03 and a 1-year high of $35.48. The business’s 50 day simple moving average is $32.04 and its 200 day simple moving average is $29.98. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $15.90 billion, a PE ratio of 110.55 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80). The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. Brookfield Infrastructure Partners’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. As a group, research analysts anticipate that Brookfield Infrastructure Partners will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of large investors have recently bought and sold shares of BIP. Capital World Investors lifted its holdings in shares of Brookfield Infrastructure Partners by 8.9% during the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after acquiring an additional 3,141,038 shares during the period. Principal Financial Group Inc. lifted its stake in Brookfield Infrastructure Partners by 8.5% during the first quarter. Principal Financial Group Inc. now owns 21,652,827 shares of the utilities provider’s stock worth $675,785,000 after purchasing an additional 1,701,587 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Brookfield Infrastructure Partners by 9.6% in the 4th quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock valued at $604,894,000 after purchasing an additional 1,678,140 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Brookfield Infrastructure Partners by 2,562.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,615,448 shares of the utilities provider’s stock worth $44,328,000 after buying an additional 1,554,782 shares in the last quarter. Finally, CCLA Investment Management lifted its position in shares of Brookfield Infrastructure Partners by 35.0% during the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after buying an additional 1,125,964 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

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.