Horizons Wealth Management bought a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 796 shares of the utilities provider’s stock, valued at approximately $29,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Brookfield Infrastructure Partners by 48.4% in the first quarter. Barclays PLC now owns 426,075 shares of the utilities provider’s stock valued at $14,387,000 after acquiring an additional 138,924 shares during the last quarter. Hudock Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $210,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Brookfield Infrastructure Partners by 66.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,784,382 shares of the utilities provider’s stock valued at $86,249,000 after buying an additional 1,116,123 shares in the last quarter. MONECO Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $230,000. Finally, Paragon Capital Management Ltd bought a new stake in Brookfield Infrastructure Partners during the first quarter worth about $1,386,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BIP has been the subject of several recent analyst reports. TD Securities upped their price objective on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Credit Suisse Group reaffirmed an “outperform” rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday, August 30th. Royal Bank of Canada decreased their price target on shares of Brookfield Infrastructure Partners from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Wells Fargo & Company decreased their price target on shares of Brookfield Infrastructure Partners from $41.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of Brookfield Infrastructure Partners in a report on Thursday, August 17th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.
Brookfield Infrastructure Partners Stock Performance
NYSE:BIP opened at $32.70 on Thursday. The company has a fifty day moving average of $33.45 and a 200-day moving average of $34.38. The firm has a market capitalization of $15.00 billion, a P/E ratio of 97.06 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 1.10. Brookfield Infrastructure Partners L.P. has a twelve month low of $30.03 and a twelve month high of $42.11.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28). Brookfield Infrastructure Partners had a return on equity of 1.42% and a net margin of 2.34%. The firm had revenue of $4.26 billion for the quarter. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.04 EPS for the current year.
Brookfield Infrastructure Partners Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a dividend of $0.382 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.53 annualized dividend and a dividend yield of 4.67%. Brookfield Infrastructure Partners’s payout ratio is 463.64%.
About Brookfield Infrastructure Partners
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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.
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