Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
Several other research analysts also recently commented on the stock. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. BMO Capital Markets dropped their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.20.
View Our Latest Stock Report on Brookfield Infrastructure Partners
Brookfield Infrastructure Partners Stock Performance
BIP opened at $31.69 on Wednesday. The firm has a market cap of $14.70 billion, a P/E ratio of 102.23 and a beta of 1.03. The firm has a 50-day moving average of $29.55 and a 200 day moving average of $29.40. Brookfield Infrastructure Partners has a fifty-two week low of $21.03 and a fifty-two week high of $33.00.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.50%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $0.72 earnings per share. Brookfield Infrastructure Partners’s revenue was up 20.7% compared to the same quarter last year. Equities research analysts predict that Brookfield Infrastructure Partners will post 3.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Brookfield Infrastructure Partners
A number of institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in Brookfield Infrastructure Partners by 8.9% in the first quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after acquiring an additional 3,141,038 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 7.1% in the second quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after acquiring an additional 1,540,223 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Brookfield Infrastructure Partners by 9.6% during the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after buying an additional 1,678,140 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Brookfield Infrastructure Partners by 20.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after buying an additional 1,112,217 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Brookfield Infrastructure Partners by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after buying an additional 257,587 shares during the last quarter. Institutional investors 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.
Further Reading
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