Brookfield Infrastructure Partners LP (NYSE:BIP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) have earned an average rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $41.00.

Several equities analysts have issued reports on BIP shares. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a research note on Friday, August 29th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th.

Brookfield Infrastructure Partners Price Performance

BIP opened at $31.06 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a market capitalization of $14.40 billion, a P/E ratio of 621.32 and a beta of 1.10. The company’s 50-day simple moving average is $31.12 and its two-hundred day simple moving average is $31.03. Brookfield Infrastructure Partners has a 52-week low of $25.72 and a 52-week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. Brookfield Infrastructure Partners’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, analysts predict that Brookfield Infrastructure Partners will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 3,440.00%.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several institutional investors have recently made changes to their positions in BIP. North Capital Inc. bought a new position in shares of Brookfield Infrastructure Partners in the 1st quarter worth approximately $35,000. SouthState Corp bought a new position in shares of Brookfield Infrastructure Partners in the 1st quarter worth approximately $37,000. Parallel Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $45,000. Farther Finance Advisors LLC increased its holdings in Brookfield Infrastructure Partners by 565.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $80,000. Institutional investors own 57.92% of the company’s stock.

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 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.