Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Acquired by Paragon Capital Management Ltd

Paragon Capital Management Ltd boosted its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,893 shares of the utilities provider’s stock after acquiring an additional 2,853 shares during the quarter. Paragon Capital Management Ltd’s holdings in Brookfield Infrastructure Partners were worth $1,602,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Horizons Wealth Management purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter worth about $29,000. Acadian Asset Management LLC grew its holdings in 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 purchasing an additional 1,054 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter valued at approximately $38,000. Tucker Asset Management LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $43,000. Finally, Sound Income Strategies LLC increased its position in shares of Brookfield Infrastructure Partners by 86.6% in the second quarter. Sound Income Strategies LLC now owns 1,601 shares of the utilities provider’s stock valued at $58,000 after buying an additional 743 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock traded down $0.08 during trading hours on Friday, reaching $32.72. The company had a trading volume of 702,513 shares, compared to its average volume of 349,018. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.60 and a current ratio of 0.65. The stock has a fifty day moving average of $33.34 and a 200-day moving average of $34.37. The company has a market capitalization of $15.01 billion, a price-to-earnings ratio of 99.15 and a beta of 0.88. Brookfield Infrastructure Partners L.P. has a 12-month low of $30.03 and a 12-month high of $41.72.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.28). The company had revenue of $4.26 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 2.34% and a return on equity of 1.42%. On average, equities analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.04 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.382 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Wednesday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 463.64%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BIP shares. Royal Bank of Canada cut their price objective on Brookfield Infrastructure Partners from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. TD Securities boosted their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. StockNews.com started coverage on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company cut their price objective on Brookfield Infrastructure Partners from $41.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, August 30th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.