Brookfield Infrastructure Partners (NYSE:BIP) PT Lowered to $34.00 at Jefferies Financial Group

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective cut by research analysts at Jefferies Financial Group from $37.00 to $34.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 29.13% from the company’s previous close.

BIP has been the topic of a number of other reports. National Bankshares lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, January 30th. BMO Capital Markets upped their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, January 10th. Raymond James upped their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Friday, February 2nd. TD Securities reduced their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, National Bank Financial lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.60.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $26.33 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.64. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $37.32. The company has a 50 day simple moving average of $29.43 and a 200 day simple moving average of $28.68. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 187.73 and a beta of 0.95.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. The business had revenue of $4.97 billion during the quarter. Research analysts anticipate that Brookfield Infrastructure Partners will post 3.32 EPS for the current fiscal year.

Institutional Trading of Brookfield Infrastructure Partners

Large investors have recently added to or reduced their stakes in the stock. Triasima Portfolio Management inc. purchased a new stake in Brookfield Infrastructure Partners during the fourth quarter worth about $12,322,000. Dixon Mitchell Investment Counsel Inc. boosted its position in Brookfield Infrastructure Partners by 71.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 765,686 shares of the utilities provider’s stock worth $24,266,000 after purchasing an additional 318,398 shares during the period. CIBC Asset Management Inc boosted its position in Brookfield Infrastructure Partners by 1.1% during the third quarter. CIBC Asset Management Inc now owns 5,569,701 shares of the utilities provider’s stock worth $163,953,000 after purchasing an additional 60,510 shares during the period. Nexus Investment Management ULC boosted its position in Brookfield Infrastructure Partners by 8.2% during the fourth quarter. Nexus Investment Management ULC now owns 1,119,440 shares of the utilities provider’s stock worth $35,393,000 after purchasing an additional 84,749 shares during the period. Finally, Raymond James & Associates boosted its position in Brookfield Infrastructure Partners by 9.3% during the third quarter. Raymond James & Associates now owns 538,703 shares of the utilities provider’s stock worth $15,838,000 after purchasing an additional 45,880 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

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.