Brookfield Infrastructure Partners LP (BIP) Shares Gap Up to $48.05
Brookfield Infrastructure Partners LP (NYSE:BIP) shares 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 changing hands.
BIP has been the subject of a number of analyst reports. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. BMO Capital Markets restated a “buy” rating and set a $53.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, June 28th. TD Securities restated a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Brookfield Infrastructure Partners in a research report on Wednesday, July 6th. Royal Bank Of Canada boosted their price objective on Brookfield Infrastructure Partners from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, RBC Capital Markets restated an “outperform” rating and set a $53.00 price objective (up previously from $49.00) on shares of Brookfield Infrastructure Partners in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$53.67.
The stock has a market cap of $7.90 billion and a P/E ratio of 36.29. The company has a 50 day moving average price of $32.58 and a 200-day moving average price of $29.02. Shares of Brookfield Infrastructure Partners are going to split before the market opens on Thursday, September 15th. The 3-2 split was announced on Monday, August 15th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, September 14th.
Brookfield Infrastructure Partners (NYSE:BIP) last issued its earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ 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, analysts forecast that Brookfield Infrastructure Partners LP will post $1.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a $0.59 dividend. The ex-dividend date is Monday, August 29th. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a dividend 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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