Brookfield Infrastructure Partners L.P. (NYSE:BIP) Receives Average Rating of “Buy” from Brokerages

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) has received an average rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.44.

A number of analysts have recently commented on the company. National Bank Financial upgraded Brookfield Infrastructure Partners from a “sector perform overweight” rating to an “outperform overweight” rating and set a $33.00 target price on the stock in a research report on Wednesday, October 18th. Scotiabank cut their price target on Brookfield Infrastructure Partners from $44.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 25th. Royal Bank of Canada cut their target price on shares of Brookfield Infrastructure Partners from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Wells Fargo & Company cut their target price on shares of Brookfield Infrastructure Partners from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Friday, September 22nd. Finally, National Bankshares raised shares of Brookfield Infrastructure Partners from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from $38.00 to $33.00 in a report on Thursday, October 19th.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of institutional investors have recently added to or reduced their stakes in BIP. Fairfield Bush & CO. purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $81,000. JPMorgan Chase & Co. grew its stake in shares of Brookfield Infrastructure Partners by 58.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,090 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 2,250 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Brookfield Infrastructure Partners by 9.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,645 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 1,230 shares during the period. Blair William & Co. IL grew its position in Brookfield Infrastructure Partners by 8.3% during the first quarter. Blair William & Co. IL now owns 29,899 shares of the utilities provider’s stock worth $1,980,000 after buying an additional 2,287 shares during the period. Finally, Equitable Holdings Inc. acquired a new position in Brookfield Infrastructure Partners during the first quarter worth about $201,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $27.04 on Tuesday. The company’s fifty day moving average price is $27.25 and its 200 day moving average price is $32.13. Brookfield Infrastructure Partners has a 12 month low of $21.03 and a 12 month high of $38.20. The firm has a market capitalization of $12.40 billion, a P/E ratio of 87.23 and a beta of 0.93.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued 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 payout ratio is 493.55%.

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 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.