Brookfield Infrastructure Partners (NYSE:BIP) Share Price Crosses Below 50-Day Moving Average – What’s Next?
by Teresa Graham · The Cerbat GemBrookfield Infrastructure Partners LP (NYSE:BIP – Get Free Report) (TSE:BIP.UN) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $37.36 and traded as low as $35.53. Brookfield Infrastructure Partners shares last traded at $36.4670, with a volume of 766,417 shares trading hands.
Analysts Set New Price Targets
A number of research firms have issued reports on BIP. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. TD Cowen restated a “buy” rating on shares of Brookfield Infrastructure Partners in a report on Friday, January 30th. Scotiabank reiterated an “outperform” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a report on Friday, January 16th. Royal Bank Of Canada lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, TD Securities restated a “buy” rating and issued a $57.00 target price (up from $55.00) on shares of Brookfield Infrastructure Partners in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.13.
Read Our Latest Analysis on Brookfield Infrastructure Partners
Brookfield Infrastructure Partners Price Performance
The company has a quick ratio of 0.75, a current ratio of 0.78 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $16.88 billion, a P/E ratio of 40.52 and a beta of 1.11. The company’s 50-day simple moving average is $37.39 and its 200 day simple moving average is $35.44.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, January 29th. The utilities provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.42). The business had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $1.98 billion. Brookfield Infrastructure Partners had a net margin of 4.40% and a return on equity of 3.22%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. As a group, sell-side analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.
Brookfield Infrastructure Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were given a $0.455 dividend. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, February 27th. Brookfield Infrastructure Partners’s payout ratio is presently 202.22%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its position in shares of Brookfield Infrastructure Partners by 225.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 675 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter worth $42,000. Westfuller Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $44,000. Finally, Assetmark Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 544.1% during the 4th quarter. Assetmark Inc. now owns 1,256 shares of the utilities provider’s stock worth $44,000 after buying an additional 1,061 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. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.
The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.