Brookfield Infrastructure Partners LP (NYSE:BIP) Receives $41.67 Consensus Price Target from Brokerages

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Get Free Report) TSE: BIP.UN have been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $41.67.

Several brokerages have recently weighed in on BIP. Citigroup decreased their target price on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several institutional investors have recently added to or reduced their stakes in BIP. CCLA Investment Management lifted its holdings in Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider's stock valued at $172,537,000 after purchasing an additional 1,453,772 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield Infrastructure Partners by 713.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider's stock worth $49,270,000 after acquiring an additional 1,452,320 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Infrastructure Partners by 3.5% in the first quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after acquiring an additional 945,462 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $24,786,000. Finally, Raymond James Financial Inc. bought a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth about $22,033,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP traded down $0.85 during midday trading on Friday, hitting $33.22. The company had a trading volume of 598,096 shares, compared to its average volume of 442,169. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.64. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of -1,660.17 and a beta of 1.08. The firm has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $31.44. Brookfield Infrastructure Partners has a fifty-two week low of $25.72 and a fifty-two week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.41% and a return on equity of 1.04%. The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business posted $0.78 EPS. Equities analysts forecast that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is currently -8,600.00%.

About Brookfield Infrastructure Partners

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.