Raymond James Analysts Give Brookfield Infrastructure Partners (NYSE:BIP) a $60.00 Price Target

Raymond James set a $60.00 price target on Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research report released on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the utilities provider’s stock. Raymond James also issued estimates for Brookfield Infrastructure Partners’ Q1 2020 earnings at $0.87 EPS, Q2 2020 earnings at $0.91 EPS, Q3 2020 earnings at $0.91 EPS, Q4 2020 earnings at $0.95 EPS, FY2020 earnings at $3.65 EPS, Q1 2021 earnings at $0.97 EPS, Q2 2021 earnings at $0.97 EPS, Q3 2021 earnings at $0.98 EPS, Q4 2021 earnings at $1.03 EPS and FY2021 earnings at $3.95 EPS.

BIP has been the topic of a number of other reports. National Bank Financial raised their target price on shares of Brookfield Infrastructure Partners from $54.00 to $56.00 and gave the company an outperform rating in a research note on Tuesday. ValuEngine downgraded shares of Brookfield Infrastructure Partners from a hold rating to a sell rating in a research note on Friday, January 3rd. TD Securities downgraded shares of Brookfield Infrastructure Partners from a buy rating to a hold rating and lowered their target price for the company from $58.00 to $57.00 in a research note on Tuesday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a sell rating to a hold rating in a research note on Monday, January 6th. Finally, BMO Capital Markets reaffirmed an in-line rating and issued a $60.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Brookfield Infrastructure Partners has a consensus rating of Hold and an average target price of $54.09.

BIP traded up $0.16 on Tuesday, reaching $55.45. The company had a trading volume of 172,055 shares, compared to its average volume of 240,382. The business has a 50 day simple moving average of $52.62 and a 200 day simple moving average of $49.60. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 792.26, a P/E/G ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.45 and a current ratio of 0.45. Brookfield Infrastructure Partners has a 52-week low of $39.51 and a 52-week high of $55.70.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Monday, February 10th. The utilities provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.91). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Brookfield Infrastructure Partners had a net margin of 3.64% and a return on equity of 1.57%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, equities research analysts predict that Brookfield Infrastructure Partners will post 3.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.538 per share. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.50. This represents a $2.15 annualized dividend and a dividend yield of 3.88%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 2,871.43%.

Several hedge funds have recently bought and sold shares of the business. Visionary Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter worth approximately $559,000. Bank of New York Mellon Corp raised its stake in shares of Brookfield Infrastructure Partners by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 39,856 shares of the utilities provider’s stock worth $1,992,000 after acquiring an additional 226 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Brookfield Infrastructure Partners by 24.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 946,698 shares of the utilities provider’s stock worth $47,325,000 after acquiring an additional 187,505 shares in the last quarter. Williams Jones Wealth Management LLC. raised its stake in shares of Brookfield Infrastructure Partners by 27.1% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 165,545 shares of the utilities provider’s stock worth $8,276,000 after acquiring an additional 35,285 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter worth approximately $1,114,000. 50.24% of the stock is currently owned by hedge funds and other institutional investors.

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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