1,500 Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP) Purchased by Park Place Capital Corp

Park Place Capital Corp bought a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,500 shares of the utilities provider’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also bought and sold shares of BIP. Pathway Financial Advisers LLC acquired a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $2,036,000. Clear Point Advisors Inc. acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth approximately $33,000. Bank of Nova Scotia Trust Co. grew its position in Brookfield Infrastructure Partners by 45.8% during the first quarter. Bank of Nova Scotia Trust Co. now owns 47,797 shares of the utilities provider’s stock worth $1,492,000 after buying an additional 15,019 shares in the last quarter. JT Stratford LLC acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth approximately $2,211,000. Finally, Capital World Investors grew its position in Brookfield Infrastructure Partners by 8.9% during the first quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after buying an additional 3,141,038 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BIP. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Jefferies Financial Group reduced their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, BMO Capital Markets reduced their target price on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP traded down $0.69 during mid-day trading on Friday, reaching $30.35. 418,492 shares of the company were exchanged, compared to its average volume of 437,148. The business has a 50 day simple moving average of $29.16 and a two-hundred day simple moving average of $29.46. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $33.52. The stock has a market capitalization of $14.08 billion, a PE ratio of 97.90 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.50% and a net margin of 0.82%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, analysts predict that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.34%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

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 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.