Brookfield Infrastructure Partners (NYSE:BIP) Price Target Raised to $46.00 at Raymond James

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target lifted by equities research analysts at Raymond James from $44.00 to $46.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the utilities provider’s stock. Raymond James’ target price indicates a potential upside of 42.04% from the stock’s previous close.

A number of other equities analysts have also commented on the company. TD Securities boosted their price objective on Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Jefferies Financial Group raised their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Brookfield Infrastructure Partners Price Performance

BIP stock traded up $1.17 during trading on Tuesday, hitting $32.39. The company had a trading volume of 282,834 shares, compared to its average volume of 309,303. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The company has a fifty day moving average price of $33.08 and a two-hundred day moving average price of $32.78. Brookfield Infrastructure Partners has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The company has a market cap of $15.03 billion, a P/E ratio of -85.23 and a beta of 1.07.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of institutional investors have recently made changes to their positions in BIP. International Assets Investment Management LLC bought a new stake in Brookfield Infrastructure Partners in the third quarter valued at approximately $410,650,000. Intact Investment Management Inc. acquired a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth $40,286,000. Pathway Financial Advisers LLC lifted its holdings in Brookfield Infrastructure Partners by 1,616.3% during the third quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock worth $37,826,000 after acquiring an additional 1,016,623 shares in the last quarter. Select Equity Group L.P. grew its stake in Brookfield Infrastructure Partners by 29.6% in the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after acquiring an additional 960,120 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 101.0% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock worth $55,783,000 after acquiring an additional 797,649 shares in the last quarter. 57.92% of the stock is 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.