Brookfield Infrastructure Partners L.P (NYSE:BIP) price on Friday, June 13, fall -2.60% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $32.96.
A look at the stock’s price movement, the close in the last trading session was $33.84. Turning to its 52-week performance, $36.50 and $25.72 were the 52-week high and 52-week low respectively. Overall, BIP moved 2.71% over the past month.
Brookfield Infrastructure Partners L.P’s market cap currently stands at around $21.48 billion, with investors looking forward to this quarter’s earnings report slated for in July. The company has a Forward Dividend ratio of 1.67, with its dividend yield at 5.07%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend BIP as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BIP’s current price about -0.55% and 6.13% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.43, while 7-day volatility ratio is 1.61% and 1.00% in the 30-day chart. Further, Brookfield Infrastructure Partners L.P (BIP) has a beta value of 1.07, and an average true range (ATR) of 0.68. Analysts have given the company’s stock an average 52-week price target of $46.666666666666664, forecast between a low of $40 and high of $47. Looking at the price targets, the low is -21.36% off current price level while to achieve the yearly target high, price needs to move -42.6%. Nonetheless, investors will most likely welcome a -41.59% jump to $46.666666666666664 which is the analysts’ median price.
If we refocus on Brookfield Infrastructure Partners L.P (NYSE:BIP), historical trading data shows that trading volumes averaged 573.51K over the past 3 months. The company’s latest data on shares outstanding shows there are 461.51 million shares.
The 0.65% of Brookfield Infrastructure Partners L.P’s shares are in the hands of company insiders while institutional holders own 58.52% of the company’s shares. Current price change has pushed the stock 3.68% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BIP stock continues to rise going into the next quarter.
