Advisor Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 29.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,011 shares of the utilities provider’s stock after purchasing an additional 5,989 shares during the quarter. Advisor Group Inc.’s holdings in Brookfield Infrastructure Partners were worth $1,089,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in BIP. Great West Life Assurance Co. Can raised its position in shares of Brookfield Infrastructure Partners by 7.2% during the first quarter. Great West Life Assurance Co. Can now owns 1,684,738 shares of the utilities provider’s stock worth $70,124,000 after purchasing an additional 113,852 shares during the period. US Bancorp DE raised its position in shares of Brookfield Infrastructure Partners by 14.4% during the first quarter. US Bancorp DE now owns 3,962 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 500 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth $16,207,000. Ninepoint Partners LP raised its position in shares of Brookfield Infrastructure Partners by 637.2% during the first quarter. Ninepoint Partners LP now owns 253,768 shares of the utilities provider’s stock worth $10,625,000 after purchasing an additional 219,343 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Brookfield Infrastructure Partners by 3.4% during the first quarter. Stratos Wealth Partners LTD. now owns 7,601 shares of the utilities provider’s stock worth $318,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 39.02% of the company’s stock.
A number of equities research analysts have recently issued reports on BIP shares. Zacks Investment Research raised Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, May 21st. Credit Suisse Group lowered Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and set a $49.00 target price on shares of Brookfield Infrastructure Partners in a research report on Thursday, March 21st. Finally, National Bank Financial boosted their target price on Brookfield Infrastructure Partners from $45.50 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and a consensus target price of $45.86.
Shares of Brookfield Infrastructure Partners stock opened at $42.45 on Thursday. The firm has a market cap of $14.74 billion, a PE ratio of 71.95, a P/E/G ratio of 1.28 and a beta of 0.93. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.93. Brookfield Infrastructure Partners L.P. has a 12-month low of $32.26 and a 12-month high of $43.27.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $954.88 million. Brookfield Infrastructure Partners had a return on equity of 1.71% and a net margin of 4.24%. The firm’s revenue was up 57.3% compared to the same quarter last year. Equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.49 EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, May 30th. Brookfield Infrastructure Partners’s payout ratio is 340.68%.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
Recommended Story: Options Trading
Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN).
Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.