Brookfield Infrastructure Partners LP (BIP) Reaches New 1-Year High at $46.98
Brookfield Infrastructure Partners LP (NYSE:BIP)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $46.98 and last traded at $45.41, with a volume of 105,359 shares traded. The stock had previously closed at $46.38.
BIP has been the subject of a number of analyst reports. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Monday, March 14th. TD Securities raised their price target on Brookfield Infrastructure Partners from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, March 16th. Scotiabank raised Brookfield Infrastructure Partners from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, March 15th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $53.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of C$50.00.
The stock has a market cap of $7.51 billion and a price-to-earnings ratio of 61.09. The firm’s 50 day moving average price is $43.94 and its 200-day moving average price is $39.85.
Brookfield Infrastructure Partners (NYSE:BIP) last announced its earnings results on Thursday, May 5th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.18. The business had revenue of $454 million for the quarter, compared to analyst estimates of $704.73 million. Analysts forecast that Brookfield Infrastructure Partners LP will post $1.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, May 26th. This represents a $2.28 dividend on an annualized basis and a yield of 4.92%.
A number of large investors recently made changes to their positions in BIP. 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 worth $225,164,000 after buying an additional 84,529 shares in 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 worth $160,629,000 after buying an additional 219,306 shares in 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 worth $26,014,000 after buying an additional 179,420 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth $20,915,000. Finally, 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 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.
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