Brookfield Infrastructure Partners (NYSE:BIP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, Citigroup reduced their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $31.63 on Friday. The firm has a market cap of $14.69 billion, a P/E ratio of 632.63 and a beta of 1.09. The company has a current ratio of 0.11, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. Brookfield Infrastructure Partners has a 1-year low of $25.72 and a 1-year high of $36.50. The business’s 50 day moving average is $32.82 and its 200-day moving average is $31.48.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%. Brookfield Infrastructure Partners’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Equities research analysts predict that Brookfield Infrastructure Partners will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.4%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 3,440.00%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of large investors have recently added to or reduced their stakes in the stock. Truist Financial Corp grew its position in Brookfield Infrastructure Partners by 1.3% during the second quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after buying an additional 314 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 325 shares in the last quarter. MGO One Seven LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 5.5% in the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 372 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 23.1% in the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 474 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 66,854 shares of the utilities provider’s stock valued at $1,992,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

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.