Royal Bank of Canada Reaffirms “Outperform” Rating for Brookfield Infrastructure Partners (NYSE:BIP)

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a report issued on Tuesday, Marketbeat reports. They presently have a $40.00 price target on the utilities provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 32.70% from the stock’s previous close.

Several other research firms also recently weighed in on BIP. TD Securities increased their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James upped their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Scotiabank upped their price objective on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $42.50.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $30.14 on Tuesday. Brookfield Infrastructure Partners has a 1-year low of $24.84 and a 1-year high of $36.50. The business has a fifty day moving average price of $31.37 and a 200-day moving average price of $32.91. The company has a market capitalization of $13.99 billion, a PE ratio of 753.76 and a beta of 1.10. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. As a group, equities analysts expect that Brookfield Infrastructure Partners will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIP. Triasima Portfolio Management inc. raised its position in shares of Brookfield Infrastructure Partners by 1.1% during the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider’s stock worth $1,059,000 after acquiring an additional 350 shares in the last quarter. MGO One Seven LLC raised its holdings in Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 372 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Brookfield Infrastructure Partners by 8.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider’s stock worth $257,000 after buying an additional 602 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Brookfield Infrastructure Partners by 6.1% in the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 647 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Brookfield Infrastructure Partners by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 707 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.