Brookfield Infrastructure Partners (NYSE:BIP – Get Valuation) (TSE:BIP.UN) National Bankshares raised its price target to $69.00 from $68.00 in a research report published on Friday, reports BayStreet.CA. They currently have an Outperform rating on the utility stock.
A number of other research analysts have also commented on GDP. The Royal Bank of Canada raised its target price on Brookfield Infrastructure Partners to $70.00 from $65.00 and gave the company an outperform rating in a report on Thursday. Citigroup raised its target price on Brookfield Infrastructure Partners to $65.00 from $57.00 in a report on Thursday, February 10. BMO Capital Markets raised its target price on Brookfield Infrastructure Partners to $71.00 from $66.00 and gave the company an outperform rating in a report on Thursday, March 31. StockNews.com reported on Brookfield Infrastructure Partners in a report on Thursday, March 31st. You set a hold rating for the company. Finally, Zacks Investment Research downgraded Brookfield Infrastructure Partners from a buy rating to a hold rating in a report Thursday, February 3rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average buy rating and a consensus price target of $68.33.
Brookfield Infrastructure Partners shares rose $0.08 on Friday afternoon to hit $61.22. The stock had a trading volume of 248,801 shares compared to an average volume of 225,244. Brookfield Infrastructure Partners has a 12-month low of $52.44 and a 12-month high of $69.01. The company’s 50-day moving average price is $63.49 and its 200-day moving average price is $60.50. The company has a market cap of $18.69 billion, a P/E of 42.22 and a beta of 0.79. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt to equity ratio of 1.03.
Brookfield Infrastructure Partners shares are scheduled for a split on Monday morning, June 13th. The 3-2 split was announced on Wednesday May 4th. The newly minted shares will be issued to shareholders after market close on Friday, June 10th.
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last reported its earnings results on Wednesday, May 4th. The utility provider reported earnings per share of $0.02 for the quarter, missing analyst consensus estimates of $0.95 ($0.93). The company made $3.41 billion in revenue for the quarter, compared to analysts’ expectations of $2.27 billion. Brookfield Infrastructure Partners had a net margin of 6.63% and a return on equity of 3.50%. The company’s quarterly revenue increased 27.1% compared to the same quarter last year. In the same period last year, the company earned $0.93 per share. Equity analysts expect Brookfield Infrastructure Partners to post 4.03 EPS for the year to date.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Tuesday, May 31 will receive a dividend of $0.54. The ex-dividend date of this dividend is Friday May 27th. That equates to an annual dividend of $2.16 and a yield of 3.53%. Brookfield Infrastructure Partners’ payout percentage is 148.97%.
A number of major investors recently added to or reduced their stakes in the stock. Capital World Investors added 8.8% to its position in Brookfield Infrastructure Partners in the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utility company’s stock valued at $1,196,578,000 after purchasing an additional 1,584,397 shares last quarter. TD Asset Management Inc. increased its position in Brookfield Infrastructure Partners by 6.1% during the fourth quarter. TD Asset Management Inc. now owns 10,220,630 shares of the utility worth $622,697,000 after purchasing an additional 587,199 shares last quarter. 1832 Asset Management LP increased its position in Brookfield Infrastructure Partners by 23.3% in the fourth quarter. 1832 Asset Management LP now owns 9,797,627 shares of the utility worth $594,607,000 after purchasing an additional 1,851,562 shares last quarter. Principal Financial Group Inc. increased its position in Brookfield Infrastructure Partners by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 9,253,402 shares of the utility company’s stock valued at $562,696,000 after purchasing an additional 87,606 shares last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Brookfield Infrastructure Partners by 3.4% in the fourth quarter. Manufacturers Life Insurance Company now owns 7,722,352 shares of the utility company’s stock valued at $469,596,000 after purchasing an additional 254,286 shares last quarter. Institutional investors own 53.98% of the company’s shares.
Company Profile of Brookfield Infrastructure Partners (received rating)
Brookfield Infrastructure Partners LP owns and operates utility, transportation, midstream and data companies in the Americas, Europe and Asia Pacific. The Company’s Utilities segment operates approximately 61,000 kilometers (km) of operational power transmission and distribution lines; 5,300 km of power transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted submetering services.
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