Brookfield Infrastructure Partners (NYSE:BIP) Earns Neutral Rating from Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $47.50 price objective on the utilities provider’s stock.

A number of other research firms have also weighed in on BIP. Raymond James reiterated a hold rating on shares of Snc-Lavalin Group in a research report on Wednesday, July 3rd. Industrial Alliance Securities increased their price target on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. National Bank Financial decreased their price target on Canadian Tire from C$170.00 to C$169.00 and set an outperform rating for the company in a research report on Monday, May 6th. Finally, Barclays set a $5.00 price target on Amneal Pharmaceuticals and gave the company a hold rating in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $46.75.

Shares of BIP stock opened at $43.64 on Thursday. The company’s 50-day moving average price is $42.89. Brookfield Infrastructure Partners has a fifty-two week low of $32.26 and a fifty-two week high of $44.74. The company has a market capitalization of $12.21 billion, a PE ratio of 363.67, a P/E/G ratio of 1.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.47 and a quick ratio of 0.47.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. Brookfield Infrastructure Partners had a return on equity of 1.71% and a net margin of 4.24%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $954.88 million. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. Sell-side analysts expect that Brookfield Infrastructure Partners will post 3.43 EPS for the current year.

The business also recently declared a dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were given a $0.502 dividend. The ex-dividend date of this dividend was Thursday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 340.68%.

A number of hedge funds and other institutional investors have recently made changes to their positions in BIP. Gradient Investments LLC boosted its position in Brookfield Infrastructure Partners by 40.0% during the 2nd quarter. Gradient Investments LLC now owns 1,050 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 300 shares during the period. Sandy Spring Bank acquired a new stake in Brookfield Infrastructure Partners during the 1st quarter worth about $48,000. Ellis Investment Partners LLC acquired a new stake in Brookfield Infrastructure Partners during the 1st quarter worth about $51,000. Truvestments Capital LLC acquired a new stake in Brookfield Infrastructure Partners during the 1st quarter worth about $53,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Brookfield Infrastructure Partners by 51.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,064 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 38.94% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

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.

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Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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