Scotiabank Issues Positive Forecast for Brookfield Infrastructure Partners (NYSE:BIP) Stock Price

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price upped by research analysts at Scotiabank from $38.00 to $41.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 23.09% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. Raymond James lifted their price target on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. Finally, TD Securities boosted their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $42.50.

Brookfield Infrastructure Partners Stock Up 2.1 %

Shares of BIP traded up $0.70 during midday trading on Thursday, hitting $33.31. The stock had a trading volume of 224,677 shares, compared to its average volume of 384,354. The company has a 50 day simple moving average of $32.44 and a two-hundred day simple moving average of $33.07. Brookfield Infrastructure Partners has a twelve month low of $24.84 and a twelve month high of $36.50. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 832.96 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. On average, analysts anticipate that Brookfield Infrastructure Partners will post 3.45 EPS for the current year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Several institutional investors have recently made changes to their positions in BIP. Citigroup Inc. raised its position in Brookfield Infrastructure Partners by 159.5% during the third quarter. Citigroup Inc. now owns 175,434 shares of the utilities provider’s stock valued at $6,147,000 after purchasing an additional 107,821 shares in the last quarter. GSA Capital Partners LLP raised its position in Brookfield Infrastructure Partners by 197.9% during the third quarter. GSA Capital Partners LLP now owns 71,941 shares of the utilities provider’s stock valued at $2,521,000 after purchasing an additional 47,792 shares in the last quarter. Addenda Capital Inc. raised its position in Brookfield Infrastructure Partners by 129.5% during the fourth quarter. Addenda Capital Inc. now owns 680,481 shares of the utilities provider’s stock valued at $21,632,000 after purchasing an additional 384,000 shares in the last quarter. FMR LLC raised its position in Brookfield Infrastructure Partners by 87.1% during the third quarter. FMR LLC now owns 24,090 shares of the utilities provider’s stock valued at $844,000 after purchasing an additional 11,217 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Brookfield Infrastructure Partners by 5.4% during the third quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock valued at $89,362,000 after purchasing an additional 130,371 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Company Profile

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.