Brookfield Infrastructure Partners L.P. (NYSE:BIP) Short Interest Down 6.7% in October

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,660,000 shares, a drop of 6.7% from the September 30th total of 1,780,000 shares. Based on an average daily trading volume, of 337,000 shares, the days-to-cover ratio is presently 4.9 days.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP stock opened at $34.14 on Friday. Brookfield Infrastructure Partners has a 12 month low of $24.84 and a 12 month high of $36.50. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The company has a market cap of $15.84 billion, a P/E ratio of -200.82 and a beta of 1.06. The firm has a fifty day moving average price of $33.78 and a 200 day moving average price of $30.83.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. Sell-side analysts predict that Brookfield Infrastructure Partners will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Clear Point Advisors Inc. purchased a new stake in Brookfield Infrastructure Partners in the first quarter valued at $33,000. Bank & Trust Co purchased a new stake in Brookfield Infrastructure Partners in the second quarter valued at $31,000. Park Place Capital Corp purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter worth about $41,000. Finally, Asset Dedication LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth about $46,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Company Profile

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.