Morgan Stanley Issues Pessimistic Forecast for Brookfield Infrastructure Partners (NYSE:BIP) Stock Price

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) had its price objective cut by equities research analysts at Morgan Stanley from $50.00 to $48.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 32.08% from the company’s current price.

Several other analysts have also recently weighed in on BIP. Weiss Ratings upgraded Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $47.00 price objective (up from $45.00) on shares of Brookfield Infrastructure Partners in a research note on Friday, July 31st. National Bank Financial raised their price objective on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 31st. BMO Capital Markets lifted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Citigroup reiterated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Brookfield Infrastructure Partners Price Performance

Shares of BIP traded down $0.38 during trading hours on Tuesday, reaching $36.34. The stock had a trading volume of 246,156 shares, compared to its average volume of 856,556. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89. Brookfield Infrastructure Partners has a 12 month low of $33.21 and a 12 month high of $44.03. The stock has a market capitalization of $16.74 billion, a PE ratio of 58.62 and a beta of 1.06. The company’s 50-day moving average is $37.33 and its two-hundred day moving average is $37.61.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the company posted $0.81 EPS. Brookfield Infrastructure Partners’s quarterly revenue was up 19.4% compared to the same quarter last year. Research analysts expect that Brookfield Infrastructure Partners will post 3.66 EPS for the current year.

Institutional Investors Weigh In On Brookfield Infrastructure Partners

A number of institutional investors have recently made changes to their positions in BIP. Clear Trail Advisors LLC increased its position 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 buying an additional 350 shares during the period. QRG Capital Management Inc. raised its stake in Brookfield Infrastructure Partners by 5.2% during the second quarter. QRG Capital Management Inc. now owns 8,721 shares of the utilities provider’s stock worth $318,000 after buying an additional 433 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Brookfield Infrastructure Partners by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 23,194 shares of the utilities provider’s stock worth $838,000 after buying an additional 529 shares during the last quarter. Allied Private Wealth LLC bought a new position in Brookfield Infrastructure Partners during the second quarter worth $37,000. Finally, Bank & Trust Co bought a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter worth about $40,000. 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’s portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.