Brookfield Infrastructure Partners LP (NYSE:BIP) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $47.31 and last traded at $46.69, with a volume of 57,989 shares trading hands. The stock had previously closed at $46.82.

BIP has been the subject of a number of recent research reports. TD Securities restated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 6th. BMO Capital Markets restated a “buy” rating and issued a $53.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, June 28th. Finally, Zacks Investment Research lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$50.00.

The firm has a market capitalization of $7.51 billion and a P/E ratio of 61.07. The firm’s 50 day moving average price is $44.40 and its 200 day moving average price is $40.09.

Brookfield Infrastructure Partners (NYSE:BIP) last announced its earnings results on Thursday, May 5th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.43 by $0.18. The company earned $454 million during the quarter, compared to the consensus estimate of $704.73 million. Equities research analysts predict that Brookfield Infrastructure Partners LP will post $1.30 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $2.28 annualized dividend and a dividend yield of 4.93%.

Several large investors have made changes to their positions in BIP. Jennison Associates LLC raised its stake in shares of Brookfield Infrastructure Partners by 71.8% in the fourth quarter. Jennison Associates LLC now owns 195,374 shares of the company’s stock valued at $7,407,000 after buying an additional 81,642 shares during the last quarter. Principal Financial Group Inc. raised 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 valued at $160,629,000 after buying an additional 219,306 shares during the last quarter. Bank of Montreal Can raised its stake in shares of 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 valued at $225,164,000 after buying an additional 84,529 shares during the last quarter. Morgan Stanley raised its stake in shares of Brookfield Infrastructure Partners by 35.4% in the fourth quarter. Morgan Stanley now owns 686,198 shares of the company’s stock valued at $26,014,000 after buying an additional 179,420 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of 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 valued at $1,152,000 after buying an additional 16,644 shares during 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.

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