Gold Investment Management Ltd. Acquires New Shares in Brookfield Infrastructure Partners LP $BIP

Gold Investment Management Ltd. bought a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the third quarter, Holdings Channel.com reports. The fund bought 181,018 shares of the utilities provider’s stock, valued at approximately $6,435,000. Brookfield Infrastructure Partners accounts for 1.8% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors also recently modified their holdings of the company. Ninepoint Partners LP acquired a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at $2,452,000. The Manufacturers Life Insurance Company increased its stake in Brookfield Infrastructure Partners by 55.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after purchasing an additional 979,842 shares in the last quarter. Purpose Unlimited Inc. bought a new stake in Brookfield Infrastructure Partners during the 4th quarter valued at $11,823,000. Oak Grove Capital LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter worth $2,936,000. Finally, Bank of Nova Scotia raised its holdings in Brookfield Infrastructure Partners by 28.0% during the first quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock worth $101,409,000 after buying an additional 614,531 shares during the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Down 0.8%

Shares of BIP stock traded down $0.30 during trading hours on Monday, reaching $37.15. The company had a trading volume of 499,838 shares, compared to its average volume of 854,543. Brookfield Infrastructure Partners LP has a 12 month low of $33.21 and a 12 month high of $44.03. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.89 and a quick ratio of 0.84. The business has a fifty day simple moving average of $37.13 and a 200-day simple moving average of $37.66. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 59.91 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.73. The company had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. Brookfield Infrastructure Partners’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, research analysts expect that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were issued a dividend of $0.4550 per share. This represents a $1.82 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Infrastructure Partners’s payout ratio is currently 293.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. BMO Capital Markets lifted their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup reissued a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Morgan Stanley lowered their target price on shares of Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average price target of $45.11.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.