Brookfield Infrastructure Partners (NYSE:BIP) Price Target Cut to $36.00

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price target lowered by BMO Capital Markets from $40.00 to $36.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 28.43% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. National Bankshares cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price for the company. in a report on Tuesday, January 30th. Jefferies Financial Group lowered their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Raymond James increased their target price on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. TD Securities lowered their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Finally, National Bank Financial cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.20.

Brookfield Infrastructure Partners Trading Up 1.8 %

Shares of BIP traded up $0.50 during trading hours on Thursday, reaching $28.03. The stock had a trading volume of 160,090 shares, compared to its average volume of 511,738. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. Brookfield Infrastructure Partners has a 52 week low of $21.03 and a 52 week high of $37.32. The firm has a 50-day moving average of $28.63 and a 200 day moving average of $28.65. The company has a market cap of $12.93 billion, a P/E ratio of 199.66 and a beta of 0.99.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. The firm had revenue of $4.97 billion during the quarter. On average, sell-side analysts expect that Brookfield Infrastructure Partners will post 3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $30,000. Heritage Wealth Advisors acquired a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $31,000. WFA Asset Management Corp lifted its stake in Brookfield Infrastructure Partners by 197.1% in the 1st quarter. WFA Asset Management Corp now owns 1,141 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 757 shares during the last quarter. Rational Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at about $39,000. Finally, Bromfield Sneider Wealth Advisors acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at about $39,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Infrastructure Partners

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.