Brookfield Infrastructure Partners LP (BIP) Shares Gap Down to $48.05
Brookfield Infrastructure Partners LP (NYSE:BIP)’s share price gapped down before the market opened on Monday . The stock had previously closed at $47.71, but opened at $48.05. Brookfield Infrastructure Partners shares last traded at $48.70, with a volume of 102,300 shares traded.
Several equities analysts have recently weighed in on BIP shares. Credit Suisse Group AG reiterated an “outperform” rating and set a $59.00 price objective on shares of Brookfield Infrastructure Partners in a report on Monday, August 22nd. Royal Bank Of Canada lifted their price objective on Brookfield Infrastructure Partners from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. TD Securities reiterated a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 6th. BMO Capital Markets reiterated a “buy” rating and set a $53.00 price objective on shares of Brookfield Infrastructure Partners in a report on Tuesday, June 28th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $53.00 price objective (up previously from $49.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Brookfield Infrastructure Partners currently has an average rating of “Buy” and a consensus price target of C$53.67.
The stock has a 50 day moving average price of $32.58 and a 200 day moving average price of $29.02. The company has a market cap of $7.90 billion and a P/E ratio of 36.29. Shares of Brookfield Infrastructure Partners are scheduled to split before the market opens on Thursday, September 15th. The 3-2 split was announced on Monday, August 15th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, September 14th.
Brookfield Infrastructure Partners (NYSE:BIP) last released its earnings results on Wednesday, August 3rd. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.23 by $0.77. The business had revenue of $462 million for the quarter, compared to analyst estimates of $674.50 million. On average, equities analysts forecast that Brookfield Infrastructure Partners LP will post $1.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 29th. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. This represents a $2.36 annualized dividend and a yield of 4.85%.
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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