Brookfield Infrastructure Partners (NYSE:BIP) Stock Rating Upgraded by Cibc World Mkts

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was upgraded by investment analysts at Cibc World Mkts to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Several other equities research analysts also recently issued reports on BIP. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group decreased their target price on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, BMO Capital Markets decreased their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP traded down $0.21 during trading hours on Friday, hitting $29.96. The stock had a trading volume of 436,353 shares, compared to its average volume of 479,673. Brookfield Infrastructure Partners has a one year low of $21.03 and a one year high of $33.52. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 97.26 and a beta of 1.03. The business’s 50 day moving average is $29.16 and its 200-day moving average is $29.46.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.80). Brookfield Infrastructure Partners had a return on equity of 0.50% and a net margin of 0.82%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts anticipate that Brookfield Infrastructure Partners will post 3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

A number of hedge funds have recently bought and sold shares of BIP. Cullen Frost Bankers Inc. bought a new position in Brookfield Infrastructure Partners during the fourth quarter worth about $30,000. Heritage Wealth Advisors bought a new position in Brookfield Infrastructure Partners in the 4th quarter valued at about $31,000. Bank & Trust Co bought a new position in Brookfield Infrastructure Partners in the 2nd quarter valued at about $31,000. Clear Point Advisors Inc. bought a new position in Brookfield Infrastructure Partners in the 1st quarter valued at about $33,000. Finally, Bromfield Sneider Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at approximately $39,000. 57.92% of the stock is 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.