Brookfield Infrastructure Partners LP (BIP) Shares Gap Up to $48.05
Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) gapped up before the market opened on Friday . The stock had previously closed at $47.71, but opened at $48.05. Brookfield Infrastructure Partners shares last traded at $48.66, with a volume of 60,299 shares.
Several analysts have recently issued reports on the company. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Brookfield Infrastructure Partners in a report on Monday, August 22nd. TD Securities reaffirmed a “buy” rating and set a $54.00 price objective (up from $50.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. Barclays PLC reaffirmed an “equal weight” rating and set a $64.00 price objective (up from $63.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. RBC Capital Markets reaffirmed an “outperform” rating and set a $53.00 price objective (up from $49.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. Finally, Royal Bank Of Canada upped their price objective on Brookfield Infrastructure Partners from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$53.67.
The firm has a market cap of $7.90 billion and a P/E ratio of 36.29. The company’s 50-day moving average is $32.58 and its 200 day moving average is $29.02. Shares of Brookfield Infrastructure Partners are set to split before the market opens on Thursday, September 15th. The 3-2 split was announced on Monday, August 15th. The newly created shares will be issued to shareholders after the market closes on Wednesday, September 14th.
Brookfield Infrastructure Partners (NYSE:BIP) last released its earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.77. The firm earned $462 million during the quarter, compared to analysts’ expectations of $674.50 million. On average, analysts expect that Brookfield Infrastructure Partners LP will post $1.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be given a $0.59 dividend. The ex-dividend date is Monday, August 29th. This represents a $2.36 annualized dividend and a dividend yield of 4.85%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57.
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.