Brookfield Infrastructure Partners (NYSE:BIP) Stock Gets Price Target Trim from Morgan Stanley

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective cut by Morgan Stanley from $50.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

BIP has been the subject of a number of other reports. Weiss Ratings raised shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Citigroup reiterated a “neutral” rating and set a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $47.00 target price (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.11.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $37.25 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. Brookfield Infrastructure Partners has a twelve month low of $33.21 and a twelve month high of $44.03. The business has a 50-day moving average price of $37.16 and a 200-day moving average price of $37.64. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 10.41 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The company had revenue of $6.48 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that Brookfield Infrastructure Partners will post 3.63 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were issued a $0.4550 dividend. This represents a $1.82 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Infrastructure Partners’s payout ratio is 293.55%.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NFSG Corp purchased a new position in Brookfield Infrastructure Partners during the 3rd quarter valued at approximately $42,000. SC&H Financial Advisors Inc. bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $291,000. Focus Financial Network Inc. bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $400,000. Oak Grove Capital LLC bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $2,936,000. Finally, Mirador Capital Partners LP purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $209,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership’s portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.