Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday.

According to Zacks, “BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. Its current business consists of the ownership and operation of premier electricity transmission systems and timberlands in North and South America, and it seeks acquisition opportunities in other infrastructure sectors with similar attributes. “

A number of other research firms have also recently issued reports on BIP. Scotiabank set a $46.75 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Tuesday, January 2nd. Credit Suisse Group reiterated a “hold” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. National Bank Financial upped their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Royal Bank of Canada upped their price target on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Finally, Raymond James Financial upped their price target on shares of Brookfield Infrastructure Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Brookfield Infrastructure Partners has an average rating of “Buy” and an average target price of $47.23.

Brookfield Infrastructure Partners (NYSE BIP) opened at $40.67 on Tuesday. The stock has a market cap of $15,650.00, a P/E ratio of 1,016.75, a P/E/G ratio of 1.05 and a beta of 0.94. Brookfield Infrastructure Partners has a 12-month low of $35.30 and a 12-month high of $46.88. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.61.

Brookfield Infrastructure Partners declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 7th that allows the company to repurchase 13,820,000 shares. This repurchase authorization allows the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TD Asset Management Inc. increased its position in Brookfield Infrastructure Partners by 13.6% in the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock valued at $425,408,000 after acquiring an additional 1,183,668 shares during the period. Principal Financial Group Inc. increased its position in Brookfield Infrastructure Partners by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock valued at $377,532,000 after acquiring an additional 437,693 shares during the period. Neuberger Berman Group LLC increased its position in Brookfield Infrastructure Partners by 2.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 6,843,911 shares of the utilities provider’s stock valued at $295,246,000 after acquiring an additional 194,390 shares during the period. The Manufacturers Life Insurance Company increased its position in Brookfield Infrastructure Partners by 73.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,727,514 shares of the utilities provider’s stock valued at $167,030,000 after acquiring an additional 1,577,649 shares during the period. Finally, First Manhattan Co. increased its position in Brookfield Infrastructure Partners by 6.7% in the 4th quarter. First Manhattan Co. now owns 1,749,112 shares of the utilities provider’s stock valued at $78,377,000 after acquiring an additional 109,627 shares during the period. Hedge funds and other institutional investors own 45.81% of the company’s stock.

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Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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