Brookfield Infrastructure Partners L.P. (NYSE:BIP) Given Consensus Recommendation of “Buy” by Brokerages

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.20.

A number of research firms have commented on BIP. Jefferies Financial Group lifted their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, TD Securities lifted their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Brookfield Infrastructure Partners Stock Down 3.6 %

BIP stock opened at $31.57 on Friday. Brookfield Infrastructure Partners has a one year low of $24.84 and a one year high of $36.50. The firm has a market cap of $14.58 billion, a PE ratio of -83.08 and a beta of 1.07. The firm’s 50 day moving average price is $33.46 and its 200-day moving average price is $32.57. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.77.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 5.13%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of hedge funds have recently bought and sold shares of BIP. JPMorgan Chase & Co. raised its holdings in Brookfield Infrastructure Partners by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 22,130 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 4,281 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at $277,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $101,000. Toronto Dominion Bank increased its holdings in Brookfield Infrastructure Partners by 24.6% in the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock valued at $140,273,000 after buying an additional 790,078 shares during the last quarter. Finally, Empire Financial Management Company LLC raised its stake in Brookfield Infrastructure Partners by 46.8% in the third quarter. Empire Financial Management Company LLC now owns 34,719 shares of the utilities provider’s stock valued at $1,217,000 after buying an additional 11,069 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

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.