Brookfield Infrastructure Partners (NYSE:BIP) Price Target Raised to $49.00 at TD Securities

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price boosted by TD Securities from $48.00 to $49.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. The firm currently has a buy rating on the utilities provider’s stock.

BIP has been the subject of a number of other reports. National Bank Financial restated an outperform rating and issued a $50.00 target price on shares of Brookfield Infrastructure Partners in a research report on Thursday, July 18th. Raymond James restated an outperform rating and issued a $49.00 target price on shares of Brookfield Infrastructure Partners in a research report on Wednesday, July 3rd. Bank of America upped their target price on Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. Barclays started coverage on Brookfield Infrastructure Partners in a research report on Thursday, July 11th. They issued an equal weight rating and a $46.00 target price for the company. Finally, Zacks Investment Research downgraded Brookfield Infrastructure Partners from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Brookfield Infrastructure Partners presently has an average rating of Buy and an average target price of $47.41.

BIP opened at $44.22 on Tuesday. The firm has a market capitalization of $12.31 billion, a P/E ratio of 1,466.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90. Brookfield Infrastructure Partners has a 1-year low of $32.26 and a 1-year high of $44.74. The business has a 50 day moving average price of $43.65.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Friday, August 2nd. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.01 billion. Brookfield Infrastructure Partners had a return on equity of 1.40% and a net margin of 3.32%. The firm’s revenue for the quarter was up 61.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 earnings per share. On average, analysts forecast that Brookfield Infrastructure Partners will post 3.44 EPS for the current year.

Several large investors have recently made changes to their positions in BIP. CIBC World Markets Inc. lifted its position in shares of Brookfield Infrastructure Partners by 89.3% during the 1st quarter. CIBC World Markets Inc. now owns 3,943,658 shares of the utilities provider’s stock valued at $165,121,000 after acquiring an additional 1,860,702 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Brookfield Infrastructure Partners by 6.5% during the 2nd quarter. Bank of Montreal Can now owns 18,008,806 shares of the utilities provider’s stock valued at $773,298,000 after acquiring an additional 1,097,680 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Brookfield Infrastructure Partners by 57.6% during the 1st quarter. CIBC Asset Management Inc now owns 2,631,973 shares of the utilities provider’s stock valued at $109,918,000 after acquiring an additional 962,098 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Brookfield Infrastructure Partners by 17.2% during the 1st quarter. Toronto Dominion Bank now owns 5,535,550 shares of the utilities provider’s stock valued at $231,162,000 after acquiring an additional 814,234 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Infrastructure Partners by 9.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock valued at $192,749,000 after acquiring an additional 413,425 shares during the last quarter. Institutional investors own 48.07% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.

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