Zacks Investment Research Lowers Brookfield Infrastructure Partners LP (NYSE:BIP) to Hold

Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a buy rating to a hold rating in a research note published on Tuesday, August 8th.

According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “

Several other brokerages also recently commented on BIP. Royal Bank Of Canada reissued a buy rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a research note on Friday, June 9th. Credit Suisse Group raised Brookfield Infrastructure Partners from a neutral rating to an outperform rating and upped their price objective for the company from $40.00 to $44.00 in a research note on Friday, June 16th. Scotiabank set a $42.50 price objective on Brookfield Infrastructure Partners and gave the company an outperform rating in a research note on Monday, July 10th. CSFB raised Brookfield Infrastructure Partners from a neutral rating to an outperform rating and upped their price objective for the company from $40.00 to $44.00 in a research note on Friday, June 16th. Finally, BidaskClub raised Brookfield Infrastructure Partners from a buy rating to a strong-buy rating in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $45.72.

Shares of Brookfield Infrastructure Partners (NYSE BIP) traded up 0.39% during midday trading on Tuesday, reaching $44.20. 190,456 shares of the company’s stock were exchanged. Brookfield Infrastructure Partners has a 12 month low of $30.76 and a 12 month high of $44.74. The company’s 50 day moving average is $41.25 and its 200-day moving average is $39.11. The stock has a market cap of $11.48 billion, a PE ratio of 97.14 and a beta of 1.11.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.86. The business had revenue of $934 million for the quarter, compared to analyst estimates of $768 million. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. Equities analysts forecast that Brookfield Infrastructure Partners will post $1.24 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 3.94%. The ex-dividend date is Tuesday, August 29th. Brookfield Infrastructure Partners’s payout ratio is presently 370.22%.

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in shares of Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock valued at $540,437,000 after buying an additional 2,947,311 shares during the last quarter. Capital World Investors boosted its stake in shares of Brookfield Infrastructure Partners by 58.9% in the second quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock valued at $213,297,000 after buying an additional 1,932,672 shares during the last quarter. Sentry Investments Corp. boosted its stake in shares of Brookfield Infrastructure Partners by 4.2% in the first quarter. Sentry Investments Corp. now owns 4,421,590 shares of the utilities provider’s stock valued at $170,983,000 after buying an additional 176,900 shares during the last quarter. Partners Value Investments LP bought a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $128,693,000. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 46.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,812,319 shares of the utilities provider’s stock valued at $69,903,000 after buying an additional 574,812 shares during the last quarter. Institutional investors and hedge funds own 34.02% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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