Brookfield Infrastructure Partners (NYSE:BIP) Price Target Cut to $34.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price dropped by equities research analysts at Jefferies Financial Group from $37.00 to $34.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 32.81% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. TD Securities lowered their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Raymond James increased their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Friday, February 2nd. BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 10th. National Bank Financial cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 30th. Finally, National Bankshares cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price objective on the stock. in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.60.

Brookfield Infrastructure Partners Trading Up 2.2 %

NYSE BIP opened at $25.60 on Wednesday. The company has a market cap of $11.81 billion, a P/E ratio of 182.87 and a beta of 0.95. Brookfield Infrastructure Partners has a 12 month low of $21.03 and a 12 month high of $37.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.68 and a quick ratio of 0.64. The company has a 50-day moving average of $29.43 and a 200-day moving average of $28.68.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.99). The firm had revenue of $4.97 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 0.79% and a net margin of 1.34%. As a group, equities analysts predict that Brookfield Infrastructure Partners will post 3.32 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Brookfield Infrastructure Partners by 22.1% during the 4th quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock worth $628,265,000 after buying an additional 3,613,608 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Brookfield Infrastructure Partners by 9.6% in the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after purchasing an additional 1,678,140 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock valued at $525,947,000 after buying an additional 1,362,482 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after purchasing an additional 1,565,246 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Brookfield Infrastructure Partners by 20.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock valued at $211,259,000 after purchasing an additional 1,112,217 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.