Brookfield Infrastructure (BIP.UN) Receives a Hold from Barclays

In a new note to investors yesterday, an analyst has provided a rating update for the Utilities sector company, Brookfield Infrastructure (BIP.UNResearch Report). The company received a Hold rating from Barclays’ analyst Eric Beaumont, with a C$60 price target.

According to TipRanks.com, Beaumont is a 2-star analyst with an average return of 0.4% and a 55.2% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Brookfield Infrastructure, and Consolidated Edison, Inc.

Currently, the analyst consensus on Brookfield Infrastructure is a Moderate Buy with an average price target of C$60, a 4.6% upside from current levels. In a report issued on July 2, Credit Suisse also maintained a Hold rating on the stock.

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Based on Brookfield Infrastructure’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$7.98 million. In comparison, last year the company had a net profit of C$82.63 million.

Brookfield Infrastructure Partners LP engages in the operation of assets that generates cash flows and requires minimal capital expenditures. It operates through the following business segments: Utilities, Transport, Energy, Communications Infrastructure, and Corporate.

The company’s shares closed on Thursday at C$57.36, close to its 52-week high of C$58.39.