Credit Suisse Group Reiterates $46.00 Price Target for Brookfield Infrastructure Partners (BIP)

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) has been given a $46.00 price objective by Credit Suisse Group in a research report issued to clients and investors on Thursday, September 13th. The brokerage presently has a “buy” rating on the utilities provider’s stock. Credit Suisse Group’s target price would suggest a potential upside of 16.22% from the stock’s current price.

A number of other analysts have also recently weighed in on BIP. ValuEngine cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Scotiabank decreased their price objective on shares of Brookfield Infrastructure Partners from $46.75 to $46.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 5th. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Bank of America initiated coverage on shares of Brookfield Infrastructure Partners in a research note on Tuesday, July 10th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.70.

Shares of NYSE:BIP traded down $0.10 on Thursday, hitting $39.58. 140,234 shares of the company were exchanged, compared to its average volume of 290,977. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.25 and a beta of 0.95. Brookfield Infrastructure Partners has a one year low of $37.27 and a one year high of $46.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.42 and a current ratio of 0.42.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, August 2nd. The utilities provider reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.55). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $833.00 million. Brookfield Infrastructure Partners had a net margin of 8.25% and a return on equity of 3.29%. Equities analysts predict that Brookfield Infrastructure Partners will post 3.18 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Brookfield Infrastructure Partners by 2.0% in the first quarter. Principal Financial Group Inc. now owns 9,053,134 shares of the utilities provider’s stock valued at $376,968,000 after buying an additional 178,462 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Infrastructure Partners by 16.3% in the first quarter. The Manufacturers Life Insurance Company now owns 4,335,096 shares of the utilities provider’s stock valued at $180,513,000 after buying an additional 607,582 shares during the period. Toronto Dominion Bank lifted its holdings in Brookfield Infrastructure Partners by 21.2% in the second quarter. Toronto Dominion Bank now owns 3,789,548 shares of the utilities provider’s stock valued at $145,379,000 after buying an additional 661,924 shares during the period. CIBC World Markets Inc. raised its holdings in Brookfield Infrastructure Partners by 3.0% in the second quarter. CIBC World Markets Inc. now owns 2,199,530 shares of the utilities provider’s stock worth $84,462,000 after purchasing an additional 63,515 shares during the period. Finally, Fiera Capital Corp raised its holdings in Brookfield Infrastructure Partners by 0.3% in the second quarter. Fiera Capital Corp now owns 2,193,229 shares of the utilities provider’s stock worth $84,159,000 after purchasing an additional 6,638 shares during the period. Institutional investors and hedge funds own 37.99% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's 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 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.

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