Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a buy rating to a hold rating in a research report released on Tuesday.
According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “
A number of other research firms also recently weighed in on BIP. Royal Bank Of Canada reiterated a buy rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, June 9th. Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from a neutral rating to an outperform rating and lifted their price target for the stock from $40.00 to $44.00 in a research note on Friday, June 16th. Scotiabank set a $42.50 price target on shares of Brookfield Infrastructure Partners and gave the stock an outperform rating in a research note on Monday, July 10th. CSFB upgraded shares of Brookfield Infrastructure Partners from a neutral rating to an outperform rating and lifted their price target for the stock from $40.00 to $44.00 in a research note on Friday, June 16th. Finally, BidaskClub raised Brookfield Infrastructure Partners from a buy rating to a strong-buy rating in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Brookfield Infrastructure Partners presently has an average rating of Buy and a consensus target price of $45.72.
Shares of Brookfield Infrastructure Partners (BIP) traded up 0.14% during mid-day trading on Tuesday, hitting $42.51. 295,015 shares of the company’s stock were exchanged. Brookfield Infrastructure Partners has a 52 week low of $30.76 and a 52 week high of $43.48. The firm has a 50 day moving average price of $40.84 and a 200-day moving average price of $38.80. The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 93.43 and a beta of 1.11.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. The business had revenue of $934 million for the quarter, compared to analyst estimates of $768 million. On average, equities analysts anticipate that Brookfield Infrastructure Partners will post $1.24 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.435 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.09%. Brookfield Infrastructure Partners’s dividend payout ratio is 370.22%.
Hedge funds have recently made changes to their positions in the company. Partners Value Investments LP purchased a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at $128,693,000. Bank of Montreal Can boosted its stake in shares of Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock valued at $540,437,000 after buying an additional 2,947,311 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the second quarter valued at $57,006,000. Montrusco Bolton Investments Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 46.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,812,319 shares of the utilities provider’s stock valued at $69,903,000 after buying an additional 574,812 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its stake in shares of Brookfield Infrastructure Partners by 4,017.0% in the second quarter. Arthur M. Cohen & Associates LLC now owns 475,801 shares of the utilities provider’s stock valued at $11,557,000 after buying an additional 464,244 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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