Credit Suisse Group Reiterates “$48.00” Price Target for Brookfield Infrastructure Partners (NYSE:BIP)

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) has been given a $48.00 price objective by Credit Suisse Group in a report issued on Monday, TipRanks reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Credit Suisse Group’s price objective points to a potential upside of 0.69% from the company’s previous close.

Several other equities analysts also recently issued reports on BIP. Industrial Alliance Securities boosted their price objective on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. TD Securities raised their target price on Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays reaffirmed a “hold” rating on shares of Brookfield Infrastructure Partners in a research note on Friday, August 2nd. Raymond James boosted their price target on Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target on Brookfield Infrastructure Partners from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and an average price target of $47.45.

NYSE:BIP traded up $0.40 during mid-day trading on Monday, hitting $47.67. The stock had a trading volume of 253,229 shares, compared to its average volume of 308,356. The company has a 50 day simple moving average of $45.50 and a 200-day simple moving average of $42.78. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 80.80, a P/E/G ratio of 1.01 and a beta of 0.85. Brookfield Infrastructure Partners has a 52 week low of $32.26 and a 52 week high of $48.79.

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

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Brookfield Infrastructure Partners by 6.5% in the second quarter. Bank of Montreal Can now owns 18,008,806 shares of the utilities provider’s stock valued at $773,298,000 after buying an additional 1,097,680 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Brookfield Infrastructure Partners by 9.9% during the first quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock valued at $192,749,000 after purchasing an additional 413,425 shares during the last quarter. CIBC World Markets Inc. lifted its stake in Brookfield Infrastructure Partners by 89.3% during the first quarter. CIBC World Markets Inc. now owns 3,943,658 shares of the utilities provider’s stock valued at $165,121,000 after purchasing an additional 1,860,702 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Brookfield Infrastructure Partners by 21.0% during the 2nd quarter. CIBC Asset Management Inc now owns 3,183,721 shares of the utilities provider’s stock valued at $136,458,000 after acquiring an additional 551,748 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 7.9% during the 2nd quarter. Scotia Capital Inc. now owns 2,259,396 shares of the utilities provider’s stock worth $96,640,000 after acquiring an additional 164,790 shares in the last quarter. Institutional investors own 46.42% of the company’s stock.

About Brookfield Infrastructure Partners

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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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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