Brookfield Infrastructure Partners (NYSE:BIP) Receives New Coverage from Analysts at TD Securities

Research analysts at TD Securities began coverage on shares of Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) in a report released on Friday, The Fly reports. The brokerage set a “buy” rating on the utilities provider’s stock.

Several other analysts have also recently issued reports on BIP. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price target for the company in a research note on Thursday, June 30th. Finally, Wells Fargo & Company increased their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.80.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP traded down $0.86 during mid-day trading on Friday, hitting $40.02. 5,129 shares of the company were exchanged, compared to its average volume of 313,658. Brookfield Infrastructure Partners has a 1-year low of $36.00 and a 1-year high of $46.01. The company has a 50 day moving average of $40.90 and a 200-day moving average of $40.89. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 58.15 and a beta of 0.74.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.53). Brookfield Infrastructure Partners had a net margin of 5.20% and a return on equity of 2.75%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the company posted $0.57 EPS. The firm’s revenue was up 38.2% on a year-over-year basis. Research analysts anticipate that Brookfield Infrastructure Partners will post 2.69 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Infrastructure Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in shares of Brookfield Infrastructure Partners by 58.9% in the second quarter. Bank of Montreal Can now owns 33,374,938 shares of the utilities provider’s stock valued at $1,263,608,000 after buying an additional 12,365,730 shares during the last quarter. TD Asset Management Inc. grew its holdings in Brookfield Infrastructure Partners by 50.8% in the second quarter. TD Asset Management Inc. now owns 15,707,894 shares of the utilities provider’s stock valued at $599,160,000 after purchasing an additional 5,288,869 shares during the period. Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure Partners by 51.4% in the second quarter. Principal Financial Group Inc. now owns 14,360,308 shares of the utilities provider’s stock valued at $548,851,000 after purchasing an additional 4,877,641 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Infrastructure Partners by 109.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,352,049 shares of the utilities provider’s stock valued at $204,473,000 after purchasing an additional 2,791,626 shares during the period. Finally, Toronto Dominion Bank grew its holdings in Brookfield Infrastructure Partners by 99.9% in the second quarter. Toronto Dominion Bank now owns 4,249,818 shares of the utilities provider’s stock valued at $162,365,000 after purchasing an additional 2,123,660 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

(Get Rating)

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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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