StockNews.com Upgrades Brookfield Infrastructure Partners (NYSE:BIP) to “Hold”

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reduced their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Jefferies Financial Group lowered their target price on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Brookfield Infrastructure Partners Trading Down 0.7 %

Shares of NYSE BIP traded down $0.20 during midday trading on Monday, reaching $30.15. 694,765 shares of the company were exchanged, compared to its average volume of 479,964. Brookfield Infrastructure Partners has a 1 year low of $21.03 and a 1 year high of $33.52. The stock has a fifty day simple moving average of $29.16 and a 200 day simple moving average of $29.46. The stock has a market cap of $13.99 billion, a P/E ratio of 97.26 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.50% and a net margin of 0.82%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. As a group, analysts forecast that Brookfield Infrastructure Partners will post 3.23 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at about $30,000. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter valued at about $31,000. Clear Point Advisors Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $33,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at about $31,000. Finally, Bromfield Sneider Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.