Brookfield Infrastructure Partners (NYSE:BIP) Price Target Lowered to $36.00 at BMO Capital Markets

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target lowered by BMO Capital Markets from $40.00 to $36.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

BIP has been the subject of a number of other reports. National Bank Financial lowered Brookfield Infrastructure Partners from an outperform rating to a sector perform rating in a research report on Tuesday, January 30th. National Bankshares lowered Brookfield Infrastructure Partners from an outperform rating to a sector perform rating and set a $32.00 price objective for the company. in a research report on Tuesday, January 30th. Raymond James lifted their target price on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a strong-buy rating in a research report on Friday, February 2nd. Jefferies Financial Group lowered their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Finally, TD Securities cut their target price on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a buy rating for the company in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $38.20.

Brookfield Infrastructure Partners Trading Up 3.0 %

NYSE BIP traded up $0.84 on Thursday, hitting $29.28. 472,990 shares of the company were exchanged, compared to its average volume of 541,856. The company has a market cap of $13.51 billion, a P/E ratio of 94.45 and a beta of 0.99. Brookfield Infrastructure Partners has a 1-year low of $21.03 and a 1-year high of $37.32. The firm has a 50 day moving average of $28.56 and a two-hundred day moving average of $28.68.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). The company had revenue of $4.97 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. Research analysts anticipate that Brookfield Infrastructure Partners will post 3.29 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several large investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth approximately $30,000. Heritage Wealth Advisors bought a new position in Brookfield Infrastructure Partners during the fourth quarter valued at $31,000. WFA Asset Management Corp grew its stake in shares of Brookfield Infrastructure Partners by 197.1% during the first quarter. WFA Asset Management Corp now owns 1,141 shares of the utilities provider’s stock valued at $36,000 after buying an additional 757 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $39,000. Finally, Bromfield Sneider Wealth Advisors bought a new position in Brookfield Infrastructure Partners in the first quarter worth approximately $39,000. 57.92% of the stock is currently owned by institutional investors.

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.