Brookfield Infrastructure Partners LP (BIP) Given “Outperform” Rating at Scotiabank

Scotiabank reissued their outperform rating on shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in a research report released on Monday morning. The brokerage currently has a $53.00 price objective on the utilities provider’s stock.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $46.00 target price for the company in a report on Monday, June 26th. BidaskClub upgraded shares of Brookfield Infrastructure Partners from a hold rating to a buy rating in a report on Tuesday, June 20th. Royal Bank Of Canada restated a buy rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, June 9th. Credit Suisse Group restated a buy rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 26th. Finally, TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the stock a buy rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $48.20.

Brookfield Infrastructure Partners (NYSE:BIP) opened at 43.72 on Monday. The company’s 50 day moving average is $42.87 and its 200 day moving average is $40.21. Brookfield Infrastructure Partners has a 52 week low of $30.76 and a 52 week high of $44.91. The stock has a market cap of $11.36 billion, a P/E ratio of 96.09 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.80 by ($0.86). Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. The firm had revenue of $934.00 million during the quarter, compared to analyst estimates of $768.00 million. Equities analysts predict that Brookfield Infrastructure Partners will post $1.35 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 370.22%.

Hedge funds have recently bought and sold shares of the stock. Navellier & Associates Inc bought a new position in Brookfield Infrastructure Partners during the second quarter valued at approximately $600,000. Atlantic Trust LLC bought a new position in Brookfield Infrastructure Partners during the second quarter valued at approximately $1,404,000. Cetera Investment Advisers bought a new position in Brookfield Infrastructure Partners during the second quarter valued at approximately $456,000. Raymond James Financial Services Advisors Inc. raised its position in Brookfield Infrastructure Partners by 7.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 117,057 shares of the utilities provider’s stock valued at $4,789,000 after acquiring an additional 7,772 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Brookfield Infrastructure Partners by 2,000.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,100 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 41.64% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

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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