BROOKFIELD Corp ON Raises Stock Holdings in Brookfield Infrastructure Partners LP $BIP

BROOKFIELD Corp ON increased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,686,497 shares of the utilities provider’s stock after purchasing an additional 158,881 shares during the period. Brookfield Infrastructure Partners accounts for 0.8% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 20th biggest position. BROOKFIELD Corp ON’s holdings in Brookfield Infrastructure Partners were worth $139,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIP. CCLA Investment Management grew its position in shares of Brookfield Infrastructure Partners by 33.5% in the first quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock valued at $172,537,000 after purchasing an additional 1,453,772 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield Infrastructure Partners by 713.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider’s stock valued at $49,270,000 after purchasing an additional 1,452,320 shares during the period. Principal Financial Group Inc. grew its position in shares of Brookfield Infrastructure Partners by 3.5% in the first quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider’s stock valued at $822,832,000 after purchasing an additional 945,462 shares during the period. SCS Capital Management LLC purchased a new position in shares of Brookfield Infrastructure Partners in the 1st quarter worth $24,786,000. Finally, Mackenzie Financial Corp raised its position in shares of Brookfield Infrastructure Partners by 8.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider’s stock worth $278,858,000 after buying an additional 650,892 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Up 1.2%

NYSE:BIP opened at $30.95 on Friday. The business’s 50-day moving average is $31.35 and its two-hundred day moving average is $31.07. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. Brookfield Infrastructure Partners LP has a 12 month low of $25.72 and a 12 month high of $36.50. The firm has a market capitalization of $14.34 billion, a PE ratio of 619.12 and a beta of 1.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released 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). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 5.6%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 3,440.00%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIP. Wall Street Zen lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Finally, Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a research report on Friday, August 29th. They issued a “buy” rating and a $35.00 target price on the stock. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $41.00.

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.