Brookfield Infrastructure Partners LP (BIP) Sets New 52-Week High at $50.12
Brookfield Infrastructure Partners LP (NYSE:BIP)’s share price reached 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. The stock had previously closed at $49.56.
A number of equities analysts have commented on the company. TD Securities restated a “buy” rating and set a $54.00 price objective (up previously from $50.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. Barclays PLC reiterated an “equal weight” rating and issued a $64.00 price target (up previously from $63.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $53.00 price target (up previously from $49.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. Royal Bank Of Canada lifted their price target on 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, 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 assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$52.67.
The firm has a 50 day moving average price of $46.15 and a 200 day moving average price of $41.71. The stock has a market cap of $8.12 billion and a price-to-earnings ratio of 37.33.
Brookfield Infrastructure Partners (NYSE:BIP) last posted its earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.77. The company had revenue of $462 million for the quarter, compared to analysts’ expectations of $674.50 million. Equities research analysts forecast that Brookfield Infrastructure Partners LP will post $1.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $2.36 annualized dividend and a dividend yield of 4.76%. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57.
An institutional investor recently raised its position in Brookfield Infrastructure Partners stock. Jennison Associates LLC boosted its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) by 71.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 195,374 shares of the company’s stock after buying an additional 81,642 shares during the period. Jennison Associates LLC owned approximately 0.12% of Brookfield Infrastructure Partners worth $7,407,000 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.
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