BMO Capital Markets Reaffirms In-Line Rating for Brookfield Infrastructure Partners (NYSE:BIP)

BMO Capital Markets reissued their in-line rating on shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research note released on Tuesday, The Fly reports. The brokerage currently has a $60.00 price target on the utilities provider’s stock.

BIP has been the topic of several other reports. Zacks Investment Research raised Brookfield Infrastructure Partners from a sell rating to a hold rating in a research report on Monday, January 6th. CIBC reiterated a buy rating and issued a $53.00 price objective on shares of Brookfield Infrastructure Partners in a report on Tuesday, December 17th. Bank of America began coverage on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 18th. They issued a buy rating and a $58.00 price objective for the company. Raymond James upped their price objective on shares of Brookfield Infrastructure Partners from $52.00 to $60.00 and gave the stock an outperform rating in a report on Friday, December 27th. Finally, ValuEngine cut shares of Brookfield Infrastructure Partners from a hold rating to a sell rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Brookfield Infrastructure Partners has a consensus rating of Hold and a consensus target price of $54.09.

BIP stock traded down $0.02 during mid-day trading on Tuesday, reaching $55.27. 7,700 shares of the stock traded hands, compared to its average volume of 242,663. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.91. Brookfield Infrastructure Partners has a 52 week low of $39.51 and a 52 week high of $55.44. The business has a 50-day moving average of $52.62 and a two-hundred day moving average of $49.60. The firm has a market capitalization of $15.55 billion, a PE ratio of 790.68, a P/E/G ratio of 1.48 and a beta of 0.80.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Monday, February 10th. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.91). The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Brookfield Infrastructure Partners had a net margin of 3.64% and a return on equity of 1.57%. Brookfield Infrastructure Partners’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities research analysts anticipate that Brookfield Infrastructure Partners will post 3.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.538 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.15 annualized dividend and a dividend yield of 3.89%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.50. Brookfield Infrastructure Partners’s dividend payout ratio is currently 2,871.43%.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Brookfield Infrastructure Partners by 0.9% during the fourth quarter. Bank of Montreal Can now owns 21,465,081 shares of the utilities provider’s stock worth $1,073,040,000 after acquiring an additional 185,117 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Brookfield Infrastructure Partners by 10.6% in the third quarter. CIBC Asset Management Inc now owns 3,519,734 shares of the utilities provider’s stock valued at $174,303,000 after buying an additional 336,013 shares in the last quarter. FIL Ltd increased its holdings in shares of Brookfield Infrastructure Partners by 64.1% in the fourth quarter. FIL Ltd now owns 1,999,162 shares of the utilities provider’s stock valued at $99,854,000 after buying an additional 780,798 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Brookfield Infrastructure Partners by 9.5% in the third quarter. Great West Life Assurance Co. Can now owns 1,847,860 shares of the utilities provider’s stock valued at $91,801,000 after buying an additional 161,062 shares in the last quarter. Finally, Highstreet Asset Management Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 11.6% in the fourth quarter. Highstreet Asset Management Inc. now owns 972,868 shares of the utilities provider’s stock valued at $48,593,000 after buying an additional 100,897 shares in the last quarter. Institutional investors own 50.24% 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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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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