Brokerages Set Brookfield Infrastructure Partners LP (NYSE:BIP) Target Price at $41.00

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $41.00.

Several equities research analysts have weighed in on BIP shares. Jefferies Financial Group started coverage on Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a “buy” rating and a $35.00 price target for the company. Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Finally, Wall Street Zen downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 6th.

Brookfield Infrastructure Partners Price Performance

BIP opened at $31.48 on Friday. The business’s 50-day moving average is $31.05 and its two-hundred day moving average is $31.08. Brookfield Infrastructure Partners has a 1 year low of $25.72 and a 1 year high of $36.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market capitalization of $14.59 billion, a PE ratio of 629.63 and a beta of 1.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. Brookfield Infrastructure Partners’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Research analysts anticipate that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.5%. Brookfield Infrastructure Partners’s payout ratio is 3,440.00%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 1.3% during the second quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 314 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Brookfield Infrastructure Partners by 9.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 325 shares in the last quarter. Public Sector Pension Investment Board raised its position in Brookfield Infrastructure Partners by 0.9% during the second quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider’s stock valued at $1,494,000 after acquiring an additional 400 shares in the last quarter. State of Wyoming increased its position in shares of Brookfield Infrastructure Partners by 12.6% in the second quarter. State of Wyoming now owns 3,649 shares of the utilities provider’s stock valued at $122,000 after buying an additional 407 shares in the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Brookfield Infrastructure Partners by 23.1% in the second quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock valued at $85,000 after buying an additional 474 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

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.