Brookfield Infrastructure Partners (NYSE:BIP) Rating Increased to Strong-Buy at Raymond James

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a $55.00 target price on the utilities provider’s stock, down from their previous target price of $60.00. Raymond James’ price target would indicate a potential upside of 40.23% from the stock’s previous close.

Several other equities research analysts have also commented on the company. CIBC reiterated a “buy” rating and set a $53.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Tuesday, December 17th. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Monday, January 6th. Royal Bank of Canada boosted their price objective on Brookfield Infrastructure Partners from $53.00 to $57.00 in a research note on Tuesday, February 11th. Bank of America began coverage on Brookfield Infrastructure Partners in a research report on Wednesday, December 18th. They issued a “buy” rating and a $58.00 price target for the company. Finally, BMO Capital Markets restated an “in-line” rating and issued a $60.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.27.

NYSE:BIP traded up $0.99 during trading hours on Tuesday, hitting $39.22. 836,989 shares of the stock were exchanged, compared to its average volume of 506,295. Brookfield Infrastructure Partners has a 52-week low of $25.77 and a 52-week high of $56.31. The firm’s fifty day moving average price is $48.39 and its 200 day moving average price is $49.96. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The company has a market cap of $9.70 billion, a P/E ratio of 560.37, a P/E/G ratio of 0.90 and a beta of 0.77.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Monday, February 10th. The utilities provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.91). Brookfield Infrastructure Partners had a return on equity of 1.43% and a net margin of 3.64%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Brookfield Infrastructure Partners’s quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts expect that Brookfield Infrastructure Partners will post 3.67 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. FIL Ltd lifted its holdings in 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 acquiring an additional 780,798 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Brookfield Infrastructure Partners in the fourth quarter valued at approximately $10,755,000. Goldman Sachs Group Inc. lifted its holdings in Brookfield Infrastructure Partners by 24.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 946,698 shares of the utilities provider’s stock valued at $47,325,000 after acquiring an additional 187,505 shares during the last quarter. Bank of Montreal Can lifted its holdings in Brookfield Infrastructure Partners by 0.9% in the fourth quarter. Bank of Montreal Can now owns 21,465,081 shares of the utilities provider’s stock valued at $1,073,040,000 after acquiring an additional 185,117 shares during the last quarter. Finally, Madison Wealth Management acquired a new position in Brookfield Infrastructure Partners in the fourth quarter valued at approximately $8,049,000. Institutional investors and hedge funds own 47.64% 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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