Brookfield Infrastructure Partners LP (NYSE:BIP) Given Buy Rating at Credit Suisse Group

Credit Suisse Group reaffirmed their buy rating on shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in a research note issued to investors on Wednesday, July 26th. The brokerage currently has a $44.00 price target on the utilities provider’s stock.

Several other equities research analysts have also weighed in on BIP. Scotiabank lifted their price target on Brookfield Infrastructure Partners from C$37.75 to C$52.00 and gave the company an outperform rating in a research report on Wednesday, April 5th. Zacks Investment Research lowered Brookfield Infrastructure Partners from a buy rating to a hold rating in a research report on Monday, June 19th. BidaskClub lowered Brookfield Infrastructure Partners from a strong-buy rating to a buy rating in a research report on Tuesday, July 11th. CSFB upgraded Brookfield Infrastructure Partners from a neutral rating to an outperform rating and lifted their price target for the company from $40.00 to $44.00 in a research report on Friday, June 16th. Finally, Raymond James Financial, Inc. lifted their price target on Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the company an outperform rating in a research report on Monday, June 5th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $45.72.

Shares of Brookfield Infrastructure Partners (NYSE:BIP) traded up 1.30% during trading on Wednesday, hitting $44.26. The stock had a trading volume of 713,733 shares. The firm has a 50 day moving average price of $40.98 and a 200-day moving average price of $38.96. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 97.27 and a beta of 1.11. Brookfield Infrastructure Partners has a 52 week low of $30.76 and a 52 week high of $44.33.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data 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. The business had revenue of $934 million during the quarter, compared to the consensus estimate of $768 million. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. On average, equities research analysts forecast that Brookfield Infrastructure Partners will post $1.24 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Tuesday, August 29th. Brookfield Infrastructure Partners’s payout ratio is 370.22%.

A number of hedge funds and other institutional investors have recently made changes to their positions in BIP. Bank of Montreal Can boosted its position 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 worth $540,437,000 after buying an additional 2,947,311 shares during the last quarter. Capital World Investors boosted its position in shares of Brookfield Infrastructure Partners by 58.9% in the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after buying an additional 1,932,672 shares during the last quarter. Sentry Investments Corp. boosted its position in shares of Brookfield Infrastructure Partners by 4.2% in the first quarter. Sentry Investments Corp. now owns 4,421,590 shares of the utilities provider’s stock worth $170,983,000 after buying an additional 176,900 shares during the last quarter. Partners Value Investments LP bought a new position in shares of Brookfield Infrastructure Partners during the first quarter worth about $128,693,000. Finally, Montrusco Bolton Investments Inc. boosted its position 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 worth $69,903,000 after buying an additional 574,812 shares during the last quarter. Institutional investors and hedge funds own 34.02% of the company’s stock.

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).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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