Scotiabank reaffirmed their outperform rating on shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in a research note issued to investors on Monday, StockTargetPrices.com reports. Scotiabank currently has a $53.00 price objective on the utilities provider’s stock.

BIP has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $46.00 price target on the stock in a research report on Friday, June 2nd. BidaskClub cut shares of Brookfield Infrastructure Partners from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Credit Suisse Group reiterated a buy rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a research report on Wednesday, July 26th. Raymond James Financial, Inc. increased their price target on shares of Brookfield Infrastructure Partners from $43.00 to $65.00 and gave the company an outperform rating in a research report on Monday, June 5th. Finally, Royal Bank Of Canada increased their price target on shares of Brookfield Infrastructure Partners from $44.00 to $45.00 and gave the company an outperform rating in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $48.20.

Shares of Brookfield Infrastructure Partners (NYSE:BIP) opened at 42.80 on Monday. Brookfield Infrastructure Partners has a 52-week low of $30.76 and a 52-week high of $44.91. The firm has a market capitalization of $11.12 billion, a P/E ratio of 94.07 and a beta of 1.09. The company’s 50-day moving average is $42.96 and its 200 day moving average is $40.26.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.86). Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $768.00 million. Analysts expect that Brookfield Infrastructure Partners will post $1.35 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 370.22%.

Several institutional investors have recently modified their holdings of BIP. US Bancorp DE grew its holdings in shares of Brookfield Infrastructure Partners by 113.5% in the first quarter. US Bancorp DE now owns 3,122 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,660 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth approximately $350,000. Stifel Financial Corp grew its holdings in shares of Brookfield Infrastructure Partners by 48.9% in the first quarter. Stifel Financial Corp now owns 18,076 shares of the utilities provider’s stock worth $699,000 after purchasing an additional 5,933 shares during the last quarter. Kings Point Capital Management grew its holdings in shares of Brookfield Infrastructure Partners by 2.0% in the first quarter. Kings Point Capital Management now owns 68,750 shares of the utilities provider’s stock worth $2,659,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Brookfield Infrastructure Partners by 23.2% in the first quarter. Chicago Partners Investment Group LLC now owns 316,362 shares of the utilities provider’s stock worth $12,234,000 after purchasing an additional 59,614 shares during the last quarter. Hedge funds and other institutional investors own 41.64% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

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. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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