Brookfield Infrastructure Partners LP (BIP) Hits New 52-Week High at $50.12
Brookfield Infrastructure Partners LP (NYSE:BIP)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $50.12 and last traded at $50.01, with a volume of 93,882 shares traded. The stock had previously closed at $49.56.
A number of brokerages have commented on BIP. Barclays PLC reaffirmed an “equal weight” rating and set a $64.00 target price (up from $63.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. TD Securities reaffirmed a “buy” rating and set a $54.00 target price (up from $50.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Royal Bank Of Canada boosted their price target on shares of Brookfield Infrastructure Partners from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Brookfield Infrastructure Partners in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued 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$52.67.
The firm’s 50-day moving average price is $46.49 and its 200 day moving average price is $41.83. The firm has a market capitalization of $8.15 billion and a PE ratio of 37.45.
Brookfield Infrastructure Partners (NYSE:BIP) last posted its earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.77. The company earned $462 million during the quarter, compared to analyst estimates of $674.50 million. On average, equities analysts expect that Brookfield Infrastructure Partners LP will post $1.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be issued a $0.59 dividend. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, August 29th. This represents a $2.36 annualized dividend and a yield of 4.71%.
A hedge fund recently raised its stake in Brookfield Infrastructure Partners stock. Morgan Stanley raised its position in Brookfield Infrastructure Partners LP (NYSE:BIP) by 35.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686,198 shares of the company’s stock after buying an additional 179,420 shares during the period. Morgan Stanley owned about 0.42% of Brookfield Infrastructure Partners worth $26,014,000 at the end of the most recent reporting period.
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.