Brookfield Infrastructure Partners (BIP) PT Lowered to $46.50 at National Bank Financial

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective reduced by National Bank Financial from $48.00 to $46.50 in a research report report published on Wednesday, February 7th. National Bank Financial currently has an outperform rating on the utilities provider’s stock.

BIP has been the topic of several other reports. Scotiabank boosted their target price on Brookfield Infrastructure Partners from $43.50 to $46.75 and gave the stock an outperform rating in a report on Monday, November 6th. Royal Bank of Canada boosted their price objective on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the stock an outperform rating in a research report on Monday, November 6th. Credit Suisse Group reiterated a hold rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. Finally, Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a sell rating to a hold rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $47.23.

Brookfield Infrastructure Partners (NYSE:BIP) traded up $0.49 during midday trading on Wednesday, reaching $41.16. The company’s stock had a trading volume of 60,952 shares, compared to its average volume of 392,533. The firm has a market capitalization of $15,650.00, a P/E ratio of 1,022.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. The company has a quick ratio of 0.23, a current ratio of 0.17 and a debt-to-equity ratio of 0.63. 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 initiated a share buyback plan on Tuesday, November 7th that permits the company to repurchase 13,820,000 outstanding shares. This repurchase authorization permits the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in Brookfield Infrastructure Partners by 1.4% in the 2nd quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock valued at $290,000 after acquiring an additional 100 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Brookfield Infrastructure Partners by 1.9% during the third quarter. D.A. Davidson & CO. now owns 61,973 shares of the utilities provider’s stock worth $2,673,000 after purchasing an additional 1,156 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Brookfield Infrastructure Partners by 13.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,635 shares of the utilities provider’s stock worth $477,000 after purchasing an additional 1,259 shares during the period. Keybank National Association OH increased its holdings in shares of Brookfield Infrastructure Partners by 5.7% during the fourth quarter. Keybank National Association OH now owns 24,009 shares of the utilities provider’s stock worth $1,076,000 after purchasing an additional 1,284 shares during the period. Finally, Kings Point Capital Management increased its holdings in shares of Brookfield Infrastructure Partners by 1.8% during the fourth quarter. Kings Point Capital Management now owns 77,342 shares of the utilities provider’s stock worth $3,466,000 after purchasing an additional 1,386 shares during the period. 45.81% of the stock is currently owned by hedge funds and other institutional investors.

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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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