Wells Fargo & Company Increases Brookfield Infrastructure Partners (NYSE:BIP) Price Target to $47.00

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) had its target price raised by Wells Fargo & Company from $46.00 to $47.00 in a note issued to investors on Thursday, MarketBeat.com reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.58% from the stock’s current price.

A number of other equities research analysts also recently weighed in on BIP. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price objective for the company in a research report on Thursday, June 30th. Royal Bank of Canada boosted their price objective on shares of Brookfield Infrastructure Partners from $43.33 to $46.67 and gave the company an “outperform” rating in a research report on Thursday, May 5th. Raymond James set a $46.67 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Thursday, May 5th. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, National Bankshares upped their target price on shares of Brookfield Infrastructure Partners from $45.33 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $41.02 on Thursday. The firm has a market cap of $18.78 billion, a PE ratio of 59.45 and a beta of 0.76. The firm’s 50-day simple moving average is $39.37 and its 200-day simple moving average is $40.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.08 and a current ratio of 0.08. Brookfield Infrastructure Partners has a 1 year low of $35.81 and a 1 year high of $46.01.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.50). Brookfield Infrastructure Partners had a net margin of 5.20% and a return on equity of 2.74%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the company earned $0.57 EPS. Brookfield Infrastructure Partners’s quarterly revenue was up 38.2% on a year-over-year basis. Equities analysts forecast that Brookfield Infrastructure Partners will post 2.75 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Infrastructure Partners

A number of institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its stake in shares of Brookfield Infrastructure Partners by 8.8% in the 4th quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock worth $1,196,578,000 after acquiring an additional 1,584,397 shares during the period. TD Asset Management Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 50.8% in the 2nd quarter. TD Asset Management Inc. now owns 15,707,894 shares of the utilities provider’s stock worth $599,160,000 after acquiring an additional 5,288,869 shares during the period. 1832 Asset Management L.P. lifted its stake in Brookfield Infrastructure Partners by 1.1% during the first quarter. 1832 Asset Management L.P. now owns 9,907,990 shares of the utilities provider’s stock valued at $647,951,000 after purchasing an additional 110,363 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Infrastructure Partners by 2.5% during the first quarter. Principal Financial Group Inc. now owns 9,482,667 shares of the utilities provider’s stock valued at $628,037,000 after purchasing an additional 229,265 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Brookfield Infrastructure Partners by 3.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,722,352 shares of the utilities provider’s stock valued at $469,596,000 after purchasing an additional 254,286 shares during the last quarter. 53.98% of the stock is owned by institutional investors and hedge funds.

About Brookfield Infrastructure Partners

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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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