Brookfield Infrastructure Partners L.P. (NYSE:BIP) Given Average Rating of “Buy” by Brokerages

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $39.40.

A number of analysts have commented on BIP shares. Jefferies Financial Group lifted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th.

Brookfield Infrastructure Partners Price Performance

BIP opened at $33.90 on Tuesday. The company has a fifty day moving average price of $33.83 and a two-hundred day moving average price of $31.02. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. Brookfield Infrastructure Partners has a 52 week low of $24.84 and a 52 week high of $36.50. The firm has a market capitalization of $15.73 billion, a PE ratio of -199.40 and a beta of 1.06.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its stake in Brookfield Infrastructure Partners by 8.9% in the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after purchasing an additional 3,141,038 shares during the period. Principal Financial Group Inc. boosted its stake in Brookfield Infrastructure Partners by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock worth $834,282,000 after purchasing an additional 616,373 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Brookfield Infrastructure Partners by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after purchasing an additional 257,587 shares during the period. CCLA Investment Management boosted its stake in Brookfield Infrastructure Partners by 35.0% in the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after purchasing an additional 1,125,964 shares during the period. Finally, Select Equity Group L.P. boosted its stake in Brookfield Infrastructure Partners by 29.6% in the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after purchasing an additional 960,120 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

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.