Lakewood Asset Management LLC Buys 14,369 Shares of Brookfield Infrastructure Partners LP $BIP

Lakewood Asset Management LLC bought a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 14,369 shares of the utilities provider’s stock, valued at approximately $511,000.

Other large investors have also recently modified their holdings of the company. Canton Hathaway LLC increased its stake in shares of Brookfield Infrastructure Partners by 59.0% in the 3rd quarter. Canton Hathaway LLC now owns 26,000 shares of the utilities provider’s stock valued at $924,000 after purchasing an additional 9,650 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $2,460,000. Cardinal Point Capital Management ULC acquired a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $1,075,000. Guardian Partners Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $5,926,000. Finally, Sawyer & Company Inc bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $133,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $36.79 on Tuesday. The firm’s fifty day moving average price is $36.88 and its two-hundred day moving average price is $37.40. The stock has a market cap of $16.84 billion, a PE ratio of 59.34 and a beta of 1.06. Brookfield Infrastructure Partners LP has a fifty-two week low of $33.21 and a fifty-two week high of $44.03. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89.

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

Brookfield Infrastructure Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. National Bank Financial boosted their target price on Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce set a $44.00 target price on Brookfield Infrastructure Partners and gave the stock an “outperformer” rating in a research note on Thursday. BMO Capital Markets increased their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.78.

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.