Brookfield Infrastructure Partners (NYSE:BIP) Hits New 52-Week High at $33.26

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN)’s share price reached a new 52-week high on Thursday . The stock traded as high as $33.26 and last traded at $33.08, with a volume of 417495 shares changing hands. The stock had previously closed at $32.01.

Analyst Ratings Changes

Several research firms recently commented on BIP. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.56.

Brookfield Infrastructure Partners Stock Performance

The stock has a market capitalization of $15.35 billion, a P/E ratio of 103.94 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The stock has a 50 day simple moving average of $30.97 and a two-hundred day simple moving average of $29.51.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.80). Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company posted $0.72 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s payout ratio is currently 522.58%.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of large investors have recently added to or reduced their stakes in the business. Heritage Wealth Advisors bought a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at $31,000. Bank & Trust Co bought a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at about $31,000. Clear Point Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $33,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $39,000. Finally, Park Place Capital Corp acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter valued at approximately $41,000. Institutional investors 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.