Scotiabank set a $46.75 price target on Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) in a research note published on Monday. The firm currently has an outperform rating on the utilities provider’s stock.

Several other research firms also recently issued reports on BIP. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a sell rating to a hold rating in a research note on Friday, January 5th. Credit Suisse Group reiterated a hold rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, December 27th. BMO Capital Markets set a $47.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock a buy rating in a research note on Friday, February 9th. National Bank Financial decreased their price objective on shares of Brookfield Infrastructure Partners from $48.00 to $46.50 and set an outperform rating for the company in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada upped their target price on shares of Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an outperform rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $47.23.

Shares of Brookfield Infrastructure Partners (BIP) opened at $40.67 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. Brookfield Infrastructure Partners has a 52 week low of $35.30 and a 52 week high of $46.88. The stock has a market cap of $15,650.00, a P/E ratio of 1,016.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94.

Brookfield Infrastructure Partners declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 7th that permits the company to repurchase 13,820,000 shares. This repurchase authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently made changes to their positions in the company. Guardian Capital Advisors LP boosted its stake in shares of Brookfield Infrastructure Partners by 4.2% in the third quarter. Guardian Capital Advisors LP now owns 75,295 shares of the utilities provider’s stock valued at $3,752,000 after purchasing an additional 3,052 shares during the period. First Manhattan Co. boosted its stake in shares of Brookfield Infrastructure Partners by 6.7% in the fourth quarter. First Manhattan Co. now owns 1,749,112 shares of the utilities provider’s stock valued at $78,377,000 after purchasing an additional 109,627 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 25.9% in the third quarter. Ameriprise Financial Inc. now owns 22,829 shares of the utilities provider’s stock valued at $984,000 after purchasing an additional 4,694 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Brookfield Infrastructure Partners by 29.7% in the second quarter. Bank of New York Mellon Corp now owns 44,995 shares of the utilities provider’s stock valued at $1,841,000 after purchasing an additional 10,296 shares during the period. Finally, Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Infrastructure Partners by 54.3% in the third quarter. Bank of Nova Scotia Trust Co. now owns 48,533 shares of the utilities provider’s stock valued at $2,093,000 after purchasing an additional 17,070 shares during the period. Institutional investors and hedge funds own 45.81% of the company’s stock.

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About Brookfield Infrastructure Partners

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).

Analyst Recommendations for Brookfield Infrastructure Partners (NYSE:BIP)

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