Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) posted its quarterly earnings results on Friday. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02, Briefing.com reports. Brookfield Infrastructure Partners had a net margin of 4.24% and a return on equity of 1.71%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis.
Shares of Brookfield Infrastructure Partners stock opened at $44.42 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50-day simple moving average of $43.41. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 75.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Brookfield Infrastructure Partners has a 1 year low of $32.26 and a 1 year high of $44.74.
BIP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. National Bank Financial reissued an “outperform” rating and set a $50.00 target price on shares of Brookfield Infrastructure Partners in a research note on Thursday, July 18th. Bank of America lifted their price target on shares of Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James reiterated an “outperform” rating and set a $49.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 3rd. Finally, Industrial Alliance Securities lifted their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.77.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
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