Brokerages Set Brookfield Infrastructure Partners LP (NYSE:BIP) Price Target at $41.67

Key Points

• Brookfield Infrastructure Partners LP has received an average recommendation of "Buy" from six analysts, with a consensus price target of $41.67.
• Recent commentary from research firms includes Citigroup lowering its price target from $34.00 to $31.00 and Wall Street Zen upgrading the stock from a "sell" to a "hold" rating.
• The company announced a quarterly dividend of $0.43 per share, yielding approximately 5.6%, with a payout ratio currently at a very high level of 3,440.00%.

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Get Free Report) TSE: BIP.UN have been assigned an average recommendation of "Buy" from the six brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $41.6667.

BIP has been the subject of a number of research analyst reports. Citigroup reduced their price target on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research report on Wednesday.

Brookfield Infrastructure Partners Trading Up 1.3%

BIP stock traded up $0.41 during mid-day trading on Monday, reaching $31.83. 282,805 shares of the stock traded hands, compared to its average volume of 515,025. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners has a 52-week low of $25.72 and a 52-week high of $36.50. The company has a market cap of $14.75 billion, a P/E ratio of 636.55 and a beta of 1.09. The stock's fifty day moving average is $31.85 and its 200-day moving average is $31.22.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the prior year, the company posted $0.77 earnings per share. Brookfield Infrastructure Partners's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.4%. Brookfield Infrastructure Partners's dividend payout ratio is currently 3,440.00%.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIP. North Capital Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $35,000. SouthState Corp acquired a new stake in Brookfield Infrastructure Partners in the first quarter worth about $37,000. Parallel Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter worth about $45,000. Farther Finance Advisors LLC grew its position in shares of Brookfield Infrastructure Partners by 565.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after buying an additional 1,906 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 23.1% during the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider's stock valued at $85,000 after purchasing 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.