Brookfield Infrastructure Partners LP (BIP) Hits New 12-Month High at $47.31
Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.31 and last traded at $46.69, with a volume of 57,989 shares traded. The stock had previously closed at $46.82.
A number of analysts have recently issued reports on BIP shares. BMO Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, June 28th. TD Securities reiterated a “buy” rating and issued a $50.00 price target (up from $48.00) on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 6th. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Scotiabank upgraded Brookfield Infrastructure Partners from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and a consensus price target of C$50.00.
The company has a market capitalization of $7.57 billion and a P/E ratio of 61.57. The company’s 50-day moving average price is $44.17 and its 200 day moving average price is $39.99.
Brookfield Infrastructure Partners (NYSE:BIP) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.18. The company had revenue of $454 million for the quarter, compared to analysts’ expectations of $704.73 million. Analysts predict that Brookfield Infrastructure Partners LP will post $1.30 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date was Thursday, May 26th.
A number of large investors have modified their holdings of BIP. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 5.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,237,112 shares of the company’s stock worth $160,629,000 after buying an additional 219,306 shares in the last quarter. Bank of Montreal Can raised its position in Brookfield Infrastructure Partners by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,939,438 shares of the company’s stock worth $225,164,000 after buying an additional 84,529 shares in the last quarter. Morgan Stanley raised its position in Brookfield Infrastructure Partners by 35.4% in the fourth quarter. Morgan Stanley now owns 686,198 shares of the company’s stock worth $26,014,000 after buying an additional 179,420 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Brookfield Infrastructure Partners by 121.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 30,389 shares of the company’s stock worth $1,152,000 after buying an additional 16,644 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Brookfield Infrastructure Partners by 71.8% in the fourth quarter. Jennison Associates LLC now owns 195,374 shares of the company’s stock worth $7,407,000 after buying an additional 81,642 shares in the last quarter.
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include Utilities, Transport, Energy, Communications Infrastructure and Other. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.