Brookfield Infrastructure Partners LP (NYSE:BIP) Price Target Raised to $48.00 at National Bank Financial

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) had its price objective lifted by National Bank Financial from $46.00 to $48.00 in a research note released on Monday, November 6th. The brokerage currently has an outperform rating on the utilities provider’s stock. National Bank Financial also issued estimates for Brookfield Infrastructure Partners’ Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.12 EPS and FY2018 earnings at $3.91 EPS.

A number of other equities analysts also recently issued reports on BIP. Scotiabank set a $42.50 price target on Brookfield Infrastructure Partners and gave the stock an outperform rating in a research report on Monday, July 10th. BidaskClub lowered shares of Brookfield Infrastructure Partners from a strong-buy rating to a buy rating in a report on Tuesday, July 11th. Credit Suisse Group reissued a buy rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 26th. Royal Bank Of Canada boosted their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $45.00 and gave the company an outperform rating in a report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Monday, August 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Brookfield Infrastructure Partners currently has a consensus rating of Buy and an average price target of $48.88.

Shares of Brookfield Infrastructure Partners (BIP) traded down $0.01 during mid-day trading on Monday, hitting $43.31. The stock had a trading volume of 93,376 shares, compared to its average volume of 248,054. The firm has a market capitalization of $16,670.00, a P/E ratio of 160.48, a PEG ratio of 1.26 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. Brookfield Infrastructure Partners has a 1-year low of $31.03 and a 1-year high of $44.91.

Brookfield Infrastructure Partners announced that its board has approved a stock repurchase plan on Tuesday, November 7th that allows the company to repurchase 13,820,000 outstanding shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 4.02%. The ex-dividend date is Wednesday, November 29th. Brookfield Infrastructure Partners’s payout ratio is 669.23%.

A number of large investors have recently bought and sold shares of the business. TD Asset Management Inc. boosted its holdings in Brookfield Infrastructure Partners by 13.6% in the third quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock valued at $425,408,000 after purchasing an additional 1,183,668 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock worth $377,532,000 after acquiring an additional 437,693 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Brookfield Infrastructure Partners by 2.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 6,843,911 shares of the utilities provider’s stock worth $295,246,000 after acquiring an additional 194,390 shares in the last quarter. Capital World Investors boosted its stake in shares of Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after acquiring an additional 1,932,672 shares in the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Brookfield Infrastructure Partners by 0.4% during the 3rd quarter. First Manhattan Co. now owns 1,639,485 shares of the utilities provider’s stock worth $70,727,000 after acquiring an additional 6,517 shares in the last quarter. 43.32% of the stock is currently owned by institutional investors.

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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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