Brookfield Infrastructure Partners (BIP) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a hold rating to a strong sell rating in a research report released on Tuesday.

According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “

Several other brokerages also recently commented on BIP. Scotiabank set a $46.75 price objective on Brookfield Infrastructure Partners and gave the company an outperform rating in a research report on Tuesday, January 2nd. Credit Suisse Group reaffirmed a hold rating and issued a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. National Bank Financial upped their price objective on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the company an outperform rating in a research report on Monday, November 6th. Royal Bank of Canada upped their price objective on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an outperform rating in a research report on Monday, November 6th. Finally, Raymond James Financial upped their price objective on Brookfield Infrastructure Partners from $48.00 to $51.00 and gave the company an outperform rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $47.23.

Brookfield Infrastructure Partners (NYSE:BIP) opened at $40.90 on Tuesday. The company has a market capitalization of $14,041.20, a price-to-earnings ratio of 176.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23. Brookfield Infrastructure Partners has a 12-month low of $35.30 and a 12-month high of $46.88.

Brookfield Infrastructure Partners announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 7th that permits the company to repurchase 13,820,000 shares. This repurchase authorization permits the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently modified their holdings of BIP. Bank of New York Mellon Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 29.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 44,995 shares of the utilities provider’s stock worth $1,841,000 after buying an additional 10,296 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 100.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 18,135 shares of the utilities provider’s stock worth $742,000 after buying an additional 9,076 shares during the period. Citigroup Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 1.4% in the 2nd quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock worth $290,000 after buying an additional 100 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth $357,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth $456,000. Institutional investors and hedge funds own 45.81% of the company’s stock.

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About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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