1,147,684 Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP) Bought by Intact Investment Management Inc.

Intact Investment Management Inc. purchased a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, HoldingsChannel reports. The firm purchased 1,147,684 shares of the utilities provider’s stock, valued at approximately $40,286,000. Brookfield Infrastructure Partners accounts for about 1.3% of Intact Investment Management Inc.’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also modified their holdings of BIP. Cedar Mountain Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the third quarter valued at approximately $26,000. Bank & Trust Co acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter worth $31,000. Clear Point Advisors Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter worth $33,000. Park Place Capital Corp purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter worth $41,000. Finally, Asset Dedication LLC acquired a new position in Brookfield Infrastructure Partners during the second quarter valued at $46,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIP. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and a consensus target price of $39.40.

Brookfield Infrastructure Partners Trading Down 0.4 %

BIP stock opened at $34.11 on Monday. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The firm has a market cap of $15.82 billion, a P/E ratio of -200.64 and a beta of 1.06. The company’s 50-day simple moving average is $33.81 and its 200-day simple moving average is $30.97.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. As a group, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

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.