Brookfield Infrastructure Partners (NYSE:BIP) Downgraded by StockNews.com to “Sell”

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

BIP has been the subject of a number of other research reports. Raymond James upped their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday. TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have given a strong buy 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 $40.60.

Brookfield Infrastructure Partners Trading Down 0.7 %

NYSE:BIP traded down $0.22 during mid-day trading on Friday, reaching $33.38. 528,322 shares of the company’s stock traded hands, compared to its average volume of 352,808. The company has a 50 day moving average price of $32.96 and a 200-day moving average price of $32.84. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of -87.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. Brookfield Infrastructure Partners has a 12-month low of $24.84 and a 12-month high of $36.50.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its stake in Brookfield Infrastructure Partners by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 73,734 shares of the utilities provider’s stock valued at $2,023,000 after purchasing an additional 1,612 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Brookfield Infrastructure Partners by 4.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,600 shares of the utilities provider’s stock valued at $1,197,000 after acquiring an additional 1,700 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock valued at $168,680,000 after acquiring an additional 257,587 shares during the period. Select Equity Group L.P. boosted its holdings in shares of Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after acquiring an additional 960,120 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Brookfield Infrastructure Partners by 9.9% in the second quarter. Creative Planning now owns 67,056 shares of the utilities provider’s stock worth $1,840,000 after acquiring an additional 6,024 shares during the period. 57.92% of the stock is currently owned by institutional investors.

About Brookfield Infrastructure Partners

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.