Raymond James Analysts Give Brookfield Infrastructure Partners (NYSE:BIP) a $70.00 Price Target

Raymond James set a $70.00 price objective on Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other analysts have also weighed in on BIP. BMO Capital Markets increased their target price on shares of Brookfield Infrastructure Partners from $66.00 to $71.00 and gave the stock an outperform rating in a report on Thursday, March 31st. Citigroup raised their price target on shares of Brookfield Infrastructure Partners from $57.00 to $65.00 in a research report on Thursday, February 10th. National Bankshares raised their price target on shares of Brookfield Infrastructure Partners from $67.00 to $68.00 and gave the company an outperform rating in a research report on Thursday, February 3rd. National Bank Financial raised their target price on shares of Brookfield Infrastructure Partners from $67.00 to $68.00 and gave the stock an outperform rating in a report on Thursday, February 3rd. Finally, Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a buy rating to a hold rating in a report on Thursday, February 3rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $68.22.

BIP opened at $61.14 on Thursday. The business’s fifty day simple moving average is $63.45 and its 200 day simple moving average is $60.47. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 1.03. Brookfield Infrastructure Partners has a 52 week low of $52.44 and a 52 week high of $69.01. The stock has a market cap of $18.66 billion, a PE ratio of 42.17 and a beta of 0.79.

Brookfield Infrastructure Partners shares are set to split on the morning of Monday, June 13th. The 3-2 split was announced on Wednesday, May 4th. The newly minted shares will be distributed to shareholders after the market closes on Friday, June 10th.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, February 2nd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.80). Brookfield Infrastructure Partners had a net margin of 8.09% and a return on equity of 4.14%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, equities analysts anticipate that Brookfield Infrastructure Partners will post 4.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st will be issued a $0.54 dividend. The ex-dividend date is Friday, May 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.53%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 148.97%.

Several hedge funds have recently added to or reduced their stakes in BIP. Prospera Financial Services Inc purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $25,000. IFS Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 4th quarter worth about $27,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the 4th quarter worth about $28,000. Nauset Wealth Management. LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $28,000. Finally, Versant Capital Management Inc purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $40,000. 53.98% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Company Profile (Get Rating)

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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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