Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN)’s share price reached a new 52-week high on Wednesday . The company traded as high as $45.44 and last traded at $44.00, with a volume of 160900 shares. The stock had previously closed at $43.90.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group reiterated a “sell” rating and set a $1.30 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday. TD Securities raised their target price on Brookfield Infrastructure Partners to $57.00 and gave the company a “buy” rating in a report on Monday, September 18th. Scotiabank restated an “outperform” rating and set a $53.00 target price on shares of Brookfield Infrastructure Partners in a report on Monday, September 18th. Zacks Investment Research cut Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Royal Bank of Canada raised their target price on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.88.
The company has a market capitalization of $17,010.00, a price-to-earnings ratio of 169.23, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23.
Brookfield Infrastructure Partners announced that its board has initiated a share repurchase plan on Tuesday, November 7th that authorizes the company to repurchase 13,820,000 outstanding shares. This repurchase authorization authorizes the utilities provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds have recently bought and sold shares of the business. TD Asset Management Inc. raised its position in shares of Brookfield Infrastructure Partners by 13.6% during the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after acquiring an additional 1,183,668 shares in the last quarter. Principal Financial Group Inc. grew its stake in Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock worth $377,532,000 after buying an additional 437,693 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Brookfield Infrastructure Partners by 2.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 6,843,911 shares of the utilities provider’s stock worth $295,246,000 after buying an additional 194,390 shares during the last quarter. Capital World Investors grew its stake in Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after buying an additional 1,932,672 shares during the last quarter. Finally, First Manhattan Co. grew its stake in Brookfield Infrastructure Partners by 0.4% during the 3rd quarter. First Manhattan Co. now owns 1,639,485 shares of the utilities provider’s stock worth $70,727,000 after buying an additional 6,517 shares during the last quarter. 45.70% of the stock is currently owned by institutional investors.
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Brookfield Infrastructure Partners Company Profile
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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