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

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its target price lifted by Raymond James from $44.00 to $46.00 in a research note published on Tuesday morning,BayStreet.CA reports. Raymond James currently has a strong-buy rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on BIP. TD Securities raised their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock opened at $32.43 on Tuesday. The company has a market cap of $15.05 billion, a PE ratio of -85.35 and a beta of 1.07. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners has a 1 year low of $24.84 and a 1 year high of $36.50. The company’s 50-day moving average is $33.08 and its two-hundred day moving average is $32.78.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.405 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 4.99%. Brookfield Infrastructure Partners’s payout ratio is -426.32%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

Hedge funds have recently modified their holdings of the business. Cedar Mountain Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $30,000. Truvestments Capital LLC bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at $77,000. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter worth $101,000. Finally, Eastern Bank bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth about $158,000. Institutional investors and hedge funds 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.