Brookfield Infrastructure Partners (NYSE:BIP) Price Target Raised to $50.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective raised by TD Securities from $49.00 to $50.00 in a research note released on Thursday,BayStreet.CA reports. TD Securities currently has a buy rating on the utilities provider’s stock.

A number of other analysts have also commented on the company. Jefferies Financial Group lifted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $34.29 on Thursday. The business’s fifty day simple moving average is $33.98 and its 200 day simple moving average is $31.19. The firm has a market capitalization of $15.83 billion, a P/E ratio of -90.24 and a beta of 1.06. Brookfield Infrastructure Partners has a 12 month low of $24.84 and a 12 month high of $36.50. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently -426.32%.

Institutional Trading of Brookfield Infrastructure Partners

A number of large investors have recently bought and sold shares of BIP. Private Advisor Group LLC grew its position in shares of Brookfield Infrastructure Partners by 2.2% in the first quarter. Private Advisor Group LLC now owns 37,964 shares of the utilities provider’s stock valued at $1,185,000 after purchasing an additional 830 shares in the last quarter. Tranquility Partners LLC grew its position in shares of Brookfield Infrastructure Partners by 1.6% in the first quarter. Tranquility Partners LLC now owns 68,361 shares of the utilities provider’s stock valued at $2,134,000 after purchasing an additional 1,093 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at $247,000. Texas Yale Capital Corp. grew its position in shares of Brookfield Infrastructure Partners by 10.6% in the first quarter. Texas Yale Capital Corp. now owns 34,903 shares of the utilities provider’s stock valued at $1,089,000 after purchasing an additional 3,335 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Brookfield Infrastructure Partners by 12.2% in the first quarter. Kingsview Wealth Management LLC now owns 7,294 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 795 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other 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.