Brookfield Infrastructure Partners’ (BIP) Outperform Rating Reaffirmed at Royal Bank of Canada

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $40.00 price objective on the utilities provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 34.43% from the stock’s current price.

Several other equities analysts have also issued reports on BIP. Raymond James lifted their price target on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. TD Securities increased their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Scotiabank boosted their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $42.50.

Brookfield Infrastructure Partners Stock Down 0.8 %

Shares of NYSE BIP traded down $0.23 on Tuesday, reaching $29.76. 79,158 shares of the company’s stock traded hands, compared to its average volume of 420,296. The business’s 50 day simple moving average is $31.42 and its two-hundred day simple moving average is $32.93. Brookfield Infrastructure Partners has a 12 month low of $24.84 and a 12 month high of $36.50. The company has a market cap of $13.81 billion, a price-to-earnings ratio of 743.61 and a beta of 1.10. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. As a group, equities research analysts forecast that Brookfield Infrastructure Partners will post 3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 2.7% in the third quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock worth $834,282,000 after acquiring an additional 616,373 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Brookfield Infrastructure Partners by 4.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,093 shares of the utilities provider’s stock valued at $1,125,000 after purchasing an additional 1,406 shares during the period. Citigroup Inc. increased its position in shares of Brookfield Infrastructure Partners by 159.5% during the 3rd quarter. Citigroup Inc. now owns 175,434 shares of the utilities provider’s stock valued at $6,147,000 after purchasing an additional 107,821 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $77,000. Finally, FMR LLC lifted its stake in shares of Brookfield Infrastructure Partners by 87.1% in the 3rd quarter. FMR LLC now owns 24,090 shares of the utilities provider’s stock worth $844,000 after purchasing an additional 11,217 shares during the period. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

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.