Brookfield Infrastructure Partners (BIP) Given a $46.75 Price Target at Scotiabank

Scotiabank set a $46.75 price target on Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a report published on Tuesday. The firm currently has an outperform rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on BIP. BMO Capital Markets started coverage on shares of Brookfield Infrastructure Partners in a research note on Monday, September 11th. They set an outperform rating and a $48.00 price target for the company. Credit Suisse Group started coverage on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. They set a neutral rating and a $44.00 price target for the company. TD Securities raised their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a buy rating in a research note on Monday, September 18th. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a hold rating to a buy rating and set a $47.00 price target for the company in a research note on Tuesday, October 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an outperform rating in a research note on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $48.88.

Shares of Brookfield Infrastructure Partners (NYSE:BIP) traded down $0.17 during mid-day trading on Tuesday, hitting $44.64. 409,500 shares of the stock traded hands, compared to its average volume of 317,250. 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 has a 12 month low of $33.20 and a 12 month high of $46.88. The stock has a market cap of $16,930.00, a price-to-earnings ratio of 171.69, a P/E/G ratio of 1.09 and a beta of 1.05.

Brookfield Infrastructure Partners declared that its Board of Directors has approved a stock buyback plan on Tuesday, November 7th that permits the company to repurchase 13,820,000 shares. This repurchase authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, November 30th were issued a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 3.90%. The ex-dividend date was Wednesday, November 29th. Brookfield Infrastructure Partners’s payout ratio is 669.23%.

A number of large investors have recently made changes to their positions in the business. Atlantic Trust Group LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 10,420.1% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,420,635 shares of the utilities provider’s stock worth $61,287,000 after acquiring an additional 1,407,131 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 116.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 418,948 shares of the utilities provider’s stock worth $18,073,000 after acquiring an additional 225,258 shares during the last quarter. Institutional & Family Asset Management LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 75.2% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 17,250 shares of the utilities provider’s stock worth $744,000 after acquiring an additional 7,403 shares during the last quarter. Optimum Investment Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $208,000. Finally, Crestwood Advisors Group LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 13.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 13,934 shares of the utilities provider’s stock worth $601,000 after acquiring an additional 1,684 shares during the last quarter. 45.70% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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