Brookfield Infrastructure Partners (NYSE:BIP) Price Target Increased to $49.00 by Analysts at TD Securities

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price boosted by equities researchers at TD Securities from $48.00 to $49.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. TD Securities’ target price indicates a potential upside of 11.28% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Barclays started coverage on Brookfield Infrastructure Partners in a research note on Thursday, July 11th. They issued an “equal weight” rating and a $46.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $49.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 3rd. Credit Suisse Group started coverage on Brookfield Infrastructure Partners in a research note on Thursday, July 18th. They issued a “neutral” rating and a $47.50 price objective for the company. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, National Bank Financial reissued an “outperform” rating and issued a $50.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Thursday, July 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners presently has an average rating of “Buy” and a consensus price target of $46.86.

NYSE BIP traded up $0.09 during mid-day trading on Tuesday, hitting $44.04. The stock had a trading volume of 368,454 shares, compared to its average volume of 452,481. The stock’s 50 day moving average is $43.52. Brookfield Infrastructure Partners has a twelve month low of $32.26 and a twelve month high of $44.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $12.37 billion, a PE ratio of 74.64, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Brookfield Infrastructure Partners had a return on equity of 1.45% and a net margin of 3.32%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 61.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Brookfield Infrastructure Partners will post 3.43 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Heritage Wealth Advisors grew its holdings in Brookfield Infrastructure Partners by 1.5% in the 2nd quarter. Heritage Wealth Advisors now owns 33,346 shares of the utilities provider’s stock valued at $1,432,000 after buying an additional 496 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Brookfield Infrastructure Partners by 21.0% in the 2nd quarter. CIBC Asset Management Inc now owns 3,183,721 shares of the utilities provider’s stock valued at $136,458,000 after buying an additional 551,748 shares in the last quarter. K.J. Harrison & Partners Inc grew its holdings in Brookfield Infrastructure Partners by 17.5% in the 2nd quarter. K.J. Harrison & Partners Inc now owns 179,070 shares of the utilities provider’s stock valued at $7,675,000 after buying an additional 26,650 shares in the last quarter. Sigma Planning Corp grew its holdings in Brookfield Infrastructure Partners by 4.0% in the 2nd quarter. Sigma Planning Corp now owns 25,952 shares of the utilities provider’s stock valued at $1,114,000 after buying an additional 990 shares in the last quarter. Finally, Stanley Laman Group Ltd. purchased a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at $193,000. Institutional investors own 48.07% of the company’s stock.

About Brookfield Infrastructure Partners

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.

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