78,723 Shares in Brookfield Infrastructure Partners LP $BIP Purchased by Northside Capital Management LLC

Northside Capital Management LLC acquired a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the second quarter, Holdings Channel.com reports. The fund acquired 78,723 shares of the utilities provider’s stock, valued at approximately $2,637,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in Brookfield Infrastructure Partners by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider’s stock worth $822,832,000 after purchasing an additional 945,462 shares in the last quarter. Scotia Capital Inc. lifted its holdings in Brookfield Infrastructure Partners by 4.3% during the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider’s stock worth $197,811,000 after purchasing an additional 277,192 shares in the last quarter. CCLA Investment Management increased its stake in Brookfield Infrastructure Partners by 33.5% in the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock worth $172,537,000 after acquiring an additional 1,453,772 shares during the last quarter. BROOKFIELD Corp ON increased its stake in Brookfield Infrastructure Partners by 3.5% in the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock worth $139,611,000 after acquiring an additional 158,881 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in Brookfield Infrastructure Partners by 18.6% in the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider’s stock worth $80,980,000 after acquiring an additional 426,248 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BIP. Wall Street Zen lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a research note on Friday, August 29th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.00.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock opened at $31.48 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $14.59 billion, a PE ratio of 629.63 and a beta of 1.10. The business’s 50-day moving average price is $31.05 and its 200-day moving average price is $31.08. Brookfield Infrastructure Partners LP has a 12 month low of $25.72 and a 12 month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. Brookfield Infrastructure Partners’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 earnings per share. Sell-side analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 5.5%. Brookfield Infrastructure Partners’s dividend payout ratio is 3,440.00%.

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 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.