Nexus Investment Management ULC boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,038,823 shares of the utilities provider’s stock after acquiring an additional 6,200 shares during the quarter. Brookfield Infrastructure Partners accounts for about 4.1% of Nexus Investment Management ULC’s portfolio, making the stock its 5th biggest holding. Nexus Investment Management ULC owned 0.23% of Brookfield Infrastructure Partners worth $37,996,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIP. Horizons Wealth Management purchased a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth approximately $29,000. Acadian Asset Management LLC raised its position in shares of Brookfield Infrastructure Partners by 8,107.7% in the first quarter. Acadian Asset Management LLC now owns 1,067 shares of the utilities provider’s stock valued at $35,000 after buying an additional 1,054 shares during the last quarter. Clear Street Markets LLC purchased a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth about $38,000. Tucker Asset Management LLC acquired a new position in Brookfield Infrastructure Partners during the first quarter worth about $43,000. Finally, Pacifica Partners Inc. grew its stake in Brookfield Infrastructure Partners by 305.4% during the 1st quarter. Pacifica Partners Inc. now owns 1,792 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.
Analyst Ratings Changes
BIP has been the topic of several recent research reports. Wells Fargo & Company lowered 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 research report on Friday, August 4th. TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 4th. StockNews.com began coverage on Brookfield Infrastructure Partners in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada cut their target price on Brookfield Infrastructure Partners from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a research note on Wednesday, August 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.
Brookfield Infrastructure Partners Price Performance
Shares of NYSE BIP traded up $0.04 on Friday, hitting $32.84. The company’s stock had a trading volume of 27,254 shares, compared to its average volume of 345,132. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.65 and a quick ratio of 0.60. The stock has a 50 day moving average of $33.40 and a 200-day moving average of $34.37. Brookfield Infrastructure Partners L.P. has a 12-month low of $30.03 and a 12-month high of $41.72. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 99.45 and a beta of 0.88.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28). The company had revenue of $4.26 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 1.42% and a net margin of 2.34%. As a group, research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.04 EPS for the current year.
Brookfield Infrastructure Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.382 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.53 annualized dividend and a yield of 4.65%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 463.64%.
Brookfield Infrastructure Partners Company Profile
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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