Brookfield Infrastructure Partners (NYSE:BIP) Stock Passes Below 50-Day Moving Average – What’s Next?

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $38.67 and traded as low as $35.32. Brookfield Infrastructure Partners shares last traded at $36.0740, with a volume of 736,706 shares.

Analyst Ratings Changes

A number of research firms recently commented on BIP. Citigroup reiterated a “neutral” rating and issued a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Finally, National Bank Financial boosted their target price on Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Brookfield Infrastructure Partners Stock Up 0.3%

The stock has a market cap of $16.61 billion, a P/E ratio of 58.18 and a beta of 1.03. The company’s 50 day moving average price is $38.67 and its two-hundred day moving average price is $37.78. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%.The firm had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, research analysts expect that Brookfield Infrastructure Partners LP will post 3.66 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.455 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.82 dividend on an annualized basis and a yield of 5.0%. Brookfield Infrastructure Partners’s payout ratio is currently 293.55%.

Institutional Trading of Brookfield Infrastructure Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clear Trail Advisors LLC grew its stake in shares of Brookfield Infrastructure Partners by 5.0% during the first quarter. Clear Trail Advisors LLC now owns 7,344 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 350 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 17.5% during the fourth quarter. IFP Advisors Inc now owns 2,880 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 429 shares during the period. Janney Montgomery Scott LLC lifted its stake in Brookfield Infrastructure Partners by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,194 shares of the utilities provider’s stock valued at $838,000 after acquiring an additional 529 shares during the period. Allworth Financial LP raised its holdings in shares of Brookfield Infrastructure Partners by 8.5% during the fourth quarter. Allworth Financial LP now owns 7,653 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 600 shares during the last quarter. Finally, Tacita Capital Inc raised its stake in shares of Brookfield Infrastructure Partners by 0.5% during the 4th quarter. Tacita Capital Inc now owns 143,021 shares of the utilities provider’s stock valued at $4,974,000 after buying an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on assets that generate long-term, stable cash flows.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. These businesses include electricity and natural gas transmission and distribution networks, railroads, toll roads, ports, pipelines, natural gas processing and storage facilities, telecommunications towers, and data centers.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.