Brookfield Infrastructure Partners (NYSE:BIP) Stock Price Target Lowered at Morgan Stanley

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective reduced by stock analysts at Morgan Stanley from $50.00 to $48.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 32.08% from the stock’s previous close.

A number of other equities research analysts have also recently commented on BIP. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Brookfield Infrastructure Partners in a research note on Friday, July 31st. Wall Street Zen lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings upgraded Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Citigroup reissued a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Finally, National Bank Financial boosted their price target on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average price target of $45.11.

Brookfield Infrastructure Partners Stock Down 1.0%

Brookfield Infrastructure Partners stock traded down $0.38 during midday trading on Tuesday, reaching $36.34. The stock had a trading volume of 246,156 shares, compared to its average volume of 856,556. Brookfield Infrastructure Partners has a 12 month low of $33.21 and a 12 month high of $44.03. The company has a market capitalization of $16.74 billion, a P/E ratio of 58.62 and a beta of 1.06. The company has a fifty day moving average price of $37.33 and a two-hundred day moving average price of $37.61. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.73. The business had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $2.23 billion. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. As a group, equities analysts expect that Brookfield Infrastructure Partners will post 3.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of Nova Scotia raised its position in Brookfield Infrastructure Partners by 28.0% in the 1st quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock valued at $101,409,000 after buying an additional 614,531 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Infrastructure Partners by 55.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock worth $99,572,000 after acquiring an additional 979,842 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in Brookfield Infrastructure Partners by 212.4% during the 4th quarter. State of Wisconsin Investment Board now owns 2,592,339 shares of the utilities provider’s stock worth $90,058,000 after acquiring an additional 1,762,436 shares during the last quarter. Addenda Capital Inc. lifted its position in shares of Brookfield Infrastructure Partners by 0.7% during the second quarter. Addenda Capital Inc. now owns 777,392 shares of the utilities provider’s stock valued at $28,367,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Brookfield Infrastructure Partners by 1.4% during the first quarter. Bank of America Corp DE now owns 555,778 shares of the utilities provider’s stock valued at $20,075,000 after purchasing an additional 7,931 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership’s portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.