Brookfield Infrastructure Partners (NYSE:BIP) Shares Cross Below 50 Day Moving Average - Here's What Happened

Key Points

• Brookfield Infrastructure Partners shares fell below their 50-day moving average, trading as low as $35.32 versus the $38.67 average, and last changing hands near $36.07.
• Analyst sentiment remains generally positive: eight analysts rate the stock a Buy and three a Hold, producing a “Moderate Buy” consensus and an average price target of $45.33.
• The company reported quarterly EPS of $0.89, well above the $0.16 estimate, while revenue rose 19.4% year over year to $6.48 billion. Brookfield also declared a $0.455 quarterly dividend, equivalent to a 5.0% annualized yield.

Brookfield Infrastructure Partners LP (NYSE:BIP - Get Free Report) TSE: BIP.UN's share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $38.67 and traded as low as $35.32. Brookfield Infrastructure Partners shares last traded at $36.0740, with a volume of 736,706 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on BIP shares. Citigroup reiterated a "neutral" rating and issued a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Wall Street Zen lowered Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. BMO Capital Markets upped their price objective on Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $50.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.33.

Brookfield Infrastructure Partners Trading Up 0.3%

The stock has a market capitalization of $16.61 billion, a P/E ratio of 58.18 and a beta of 1.03. The stock's fifty day moving average price is $38.67 and its two-hundred day moving average price is $37.78. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its earnings results on Thursday, July 30th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.16 by $0.73. The company had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. Brookfield Infrastructure Partners had a net margin of 3.51% and a return on equity of 2.63%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. Equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.66 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is 293.55%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of hedge funds and other institutional investors have recently modified their holdings of BIP. Capital World Investors grew its position in Brookfield Infrastructure Partners by 0.3% during the 4th quarter. Capital World Investors now owns 31,104,057 shares of the utilities provider's stock worth $1,081,181,000 after acquiring an additional 86,068 shares during the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Infrastructure Partners by 7.4% in the fourth quarter. CIBC Asset Management Inc now owns 8,559,336 shares of the utilities provider's stock valued at $297,699,000 after purchasing an additional 589,915 shares during the last quarter. TD Asset Management Inc lifted its position in Brookfield Infrastructure Partners by 3.8% in the fourth quarter. TD Asset Management Inc now owns 7,015,901 shares of the utilities provider's stock valued at $244,192,000 after purchasing an additional 259,074 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 0.4% during the fourth quarter. Cibc World Market Inc. now owns 6,688,284 shares of the utilities provider's stock valued at $232,351,000 after purchasing an additional 24,650 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 68.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,243,218 shares of the utilities provider's stock valued at $112,669,000 after purchasing an additional 1,317,669 shares during the period. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on assets that generate long-term, stable cash flows.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. These businesses include electricity and natural gas transmission and distribution networks, railroads, toll roads, ports, pipelines, natural gas processing and storage facilities, telecommunications towers, and data centers.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.