Brookfield Infrastructure Partners (NYSE:BIP) Earns “Buy” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research note issued to investors on Thursday, AnalystRatings.com reports.

BIP has been the subject of several other research reports. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a sell rating to a hold rating in a research report on Tuesday, July 14th. Citigroup began coverage on Brookfield Infrastructure Partners in a research note on Thursday, June 18th. They issued a neutral rating and a $41.00 target price for the company. National Bank Financial upped their price target on shares of Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the stock an outperform rating in a research report on Thursday, April 30th. Scotiabank decreased their price objective on shares of Brookfield Infrastructure Partners from $51.00 to $50.00 and set a sector outperform rating on the stock in a report on Monday, May 11th. Finally, ValuEngine downgraded shares of Brookfield Infrastructure Partners from a hold rating to a sell rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $49.55.

Shares of Brookfield Infrastructure Partners stock opened at $41.84 on Thursday. Brookfield Infrastructure Partners has a 12-month low of $25.77 and a 12-month high of $56.31. The stock has a market capitalization of $12.28 billion, a P/E ratio of 167.36 and a beta of 1.01. The company has a 50-day simple moving average of $41.61 and a 200 day simple moving average of $43.98.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.74). Brookfield Infrastructure Partners had a return on equity of 1.87% and a net margin of 4.54%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company posted $0.88 earnings per share. Brookfield Infrastructure Partners’s quarterly revenue was up 37.9% compared to the same quarter last year. On average, equities analysts predict that Brookfield Infrastructure Partners will post 2.97 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Brookfield Infrastructure Partners by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 39,856 shares of the utilities provider’s stock valued at $1,992,000 after buying an additional 226 shares during the period. Sigma Planning Corp boosted its position in shares of Brookfield Infrastructure Partners by 1.7% in the 2nd quarter. Sigma Planning Corp now owns 17,268 shares of the utilities provider’s stock worth $710,000 after purchasing an additional 283 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Brookfield Infrastructure Partners by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,384 shares of the utilities provider’s stock worth $230,000 after purchasing an additional 313 shares during the last quarter. Ameritas Investment Company LLC grew its stake in shares of Brookfield Infrastructure Partners by 2.4% during the first quarter. Ameritas Investment Company LLC now owns 13,861 shares of the utilities provider’s stock worth $498,000 after purchasing an additional 326 shares during the period. Finally, Hudock Inc. increased its holdings in Brookfield Infrastructure Partners by 6.0% in the first quarter. Hudock Inc. now owns 5,803 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 328 shares during the last quarter. 48.29% of the stock is owned by institutional investors and hedge funds.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.

Read More: The mechanics of the bid-ask spread in trading

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.