Raymond James Lowers Brookfield Infrastructure Partners (NYSE:BIP) Price Target to $40.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target trimmed by Raymond James from $45.00 to $40.00 in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has a strong-buy rating on the utilities provider’s stock. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q4 2023 earnings at $0.79 EPS, FY2023 earnings at $2.95 EPS, Q1 2024 earnings at $0.80 EPS, Q2 2024 earnings at $0.78 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.85 EPS and FY2024 earnings at $3.25 EPS.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their target price on Brookfield Infrastructure Partners from $37.00 to $35.00 and set an overweight rating on the stock in a report on Friday, September 22nd. StockNews.com initiated coverage on Brookfield Infrastructure Partners in a research note on Thursday, October 5th. They issued a hold rating for the company. TD Securities dropped their price target on Brookfield Infrastructure Partners from $50.00 to $45.00 and set a buy rating for the company in a research note on Tuesday, October 24th. BMO Capital Markets lowered their target price on Brookfield Infrastructure Partners from $43.00 to $42.00 and set an outperform rating for the company in a research report on Friday, September 22nd. Finally, Scotiabank lowered their target price on Brookfield Infrastructure Partners from $44.00 to $38.00 and set an outperform rating for the company in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of Buy and an average price target of $38.44.

Brookfield Infrastructure Partners Trading Down 0.6 %

Shares of NYSE:BIP opened at $27.04 on Thursday. The company has a market capitalization of $12.40 billion, a P/E ratio of 87.23 and a beta of 0.93. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $38.20. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.60. The business’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $32.78.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28). The company had revenue of $4.26 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 1.36% and a net margin of 2.17%. On average, research analysts anticipate that Brookfield Infrastructure Partners will post 2.99 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a $0.382 dividend. This represents a $1.53 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Wednesday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 493.55%.

Institutional Trading of Brookfield Infrastructure Partners

Large investors have recently made changes to their positions in the company. Horizons Wealth Management acquired a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at about $29,000. Acadian Asset Management LLC lifted its position in shares of Brookfield Infrastructure Partners by 8,107.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,067 shares of the utilities provider’s stock worth $35,000 after buying an additional 1,054 shares in the last quarter. Power Corp of Canada bought a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $73,000. Clear Street Markets LLC bought a new position in shares of Brookfield Infrastructure Partners during the 4th quarter worth approximately $38,000. Finally, Fairfield Bush & CO. bought a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $81,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Infrastructure Partners

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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.