Brookfield Infrastructure Partners (NYSE:BIP) PT Raised to $70.00 at Royal Bank of Canada

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) had its target price upped by equities research analysts at Royal Bank of Canada from $65.00 to $70.00 in a report released on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 15.68% from the company’s current price.

Several other equities research analysts have also commented on BIP. Zacks Investment Research lowered shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research report on Thursday, February 3rd. StockNews.com initiated coverage on Brookfield Infrastructure Partners in a report on Thursday, March 31st. They issued a “hold” rating for the company. TD Securities lifted their price target on Brookfield Infrastructure Partners from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, April 1st. BMO Capital Markets boosted their price target on Brookfield Infrastructure Partners from $66.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, March 31st. Finally, National Bank Financial upped their price target on Brookfield Infrastructure Partners from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, February 3rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and an average price target of $68.22.

NYSE BIP traded down $1.56 during mid-day trading on Thursday, hitting $60.51. The company’s stock had a trading volume of 11,641 shares, compared to its average volume of 220,975. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 34.89 and a beta of 0.79. The company’s 50 day simple moving average is $63.41 and its 200 day simple moving average is $60.44. Brookfield Infrastructure Partners has a twelve month low of $52.44 and a twelve month high of $69.01.

Brookfield Infrastructure Partners’s stock is scheduled to split on the morning of Monday, June 13th. The 3-2 split was announced on Wednesday, May 4th. The newly minted shares will be issued to shareholders after the market closes on Friday, June 10th.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last announced its earnings results on Wednesday, February 2nd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.80). Brookfield Infrastructure Partners had a net margin of 8.09% and a return on equity of 4.14%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, research analysts forecast that Brookfield Infrastructure Partners will post 4.03 EPS for the current year.

Large investors have recently made changes to their positions in the business. Prospera Financial Services Inc bought a new stake in Brookfield Infrastructure Partners during the first quarter valued at about $25,000. IFS Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth approximately $28,000. Nauset Wealth Management. LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $28,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $40,000. 53.98% of the stock is currently owned by institutional investors.

About Brookfield Infrastructure Partners (Get Rating)

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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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