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Brookfield Infrastructure Partners (NYSE:BIP) close to 52-week high, short interest increasing though

March 09
09:54 2015

Brookfield Infrastructure Partn (NYSE:BIP) (TREND ANALYSIS) shares were traded with no significant volume change. The stock closed last trading session at $43.09, down by -4.01%, with a volume of 310,414 shares against an average volume for the last 3 months of 224,656.

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BIP reported last quarter earnings on February 03. The company announced earning per share of $0.86 against a consensus Street estimate of $0.9, missing estimate by $0.04. This corresponds to an increase of $0.14 compared to the same quarter of the previous fiscal year.

Brookfield Infrastructure Partners (NYSE:BIP) is currently trading 7.51% below its 52-week-high, 18.12% above its 52-week-low. The 12-months range for the stock is $36.48 – $46.59. Brookfield Infrastructure Partners (BIP) has a price to earnings ratio of 66.8 versus S&P 500 average of 17.42. BIP stock price has outperformed the S&P 500 by 1.7%. The company is currently valued at $6.47 billion and its share price closed the last trading session at $43.09. The stock has a 50-day moving average of $44.21 and a 200-day moving average of $41.51.

Brookfield Infrastructure Partners (BIP) current short interest stands at 1.92 millions shares. It has increased by 29% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.5 millions shares, the number of days required to cover the short positions stand at 0.4 day.

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There are currently eight analysts that cover BIP stock. Of those eight, five have a Buy rating, three have a Hold rating. On a consensus basis this yields to a Overweight rating. The consensus target price stands at $47.46.

A recent analyst activity consisted of Barclays who initiated their coverage on the stock with a Equal Weight rating on January 5. Barclays fixed their price target at $43. This corresponds to a 0.21% downside from the last closing price. On the date of report, the stock closed at $41.51.

Company profile

Brookfield Infrastructure Partners L.P. engages in the utilities, transportation and energy, and timber businesses. The company operates a port facility that exports metallurgical and thermal coal mined in the central Bowen Basin region of Queensland, Australia; approximately 8,800 kilometers of electricity transmission lines in North and South America; and approximately 1.5 million electricity and natural gas connections in the United Kingdom, New Zealand, and Colombia. It also provides transportation, storage, and handling services for energy, freight, bulk commodities, and passengers; operates a rail service with approximately 5,100 kilometers of tracks in southwestern Western Australia; approximately 30 port terminals primarily in Europe; 15,500 kilometers of natural gas transmission lines primarily in the United States; and engages in the toll road operation businesses. In addition, the company engages in the timber businesses and operates approximately 419,000 net acres of freehold timberlands located in the coastal region of British Columbia, Canada; and the Pacific Northwest region of the United States. Brookfield Infrastructure Partners Limited serves as a general partner of Brookfield Infrastructure Partners L.P. The company was founded in 2007 and is based in Hamilton, Bermuda. Brookfield Infrastructure Partners L.P. is a subsidiary of Brookfield Asset Management Inc.

About Author

David Victor

David Victor

David Victor joined Markets Wired in 2013 and covers retail and US Packaged Foods industries. Previously Dave was a sell-side contributor at Morningstar.

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