Brookfield Infrastructure Partners L.P. (BIP - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session.This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $37.71 to $39.69 in the past one-month time frame.
The move came after the company declared that it has inked a definitive agreement to acquire Enbridge Inc.’s Western Canadian natural gas gathering and processing business for roughly $3.3 billion.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Brookfield Infrastructure currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the Utility - Electric Power industry is Alliant Energy Corporation (LNT - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is BIP going up? Or down? Predict to see what others think:Up or Down
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