Advisors Capital Management LLC acquired a new stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,929 shares of the utilities provider’s stock, valued at approximately $391,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Reby Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at $26,000. Planned Solutions Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 100.0% during the fourth quarter. Planned Solutions Inc. now owns 600 shares of the utilities provider’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Oder Investment Management LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at $33,000. TCTC Holdings LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at $37,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at $44,000. 50.16% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Infrastructure Partners stock opened at $53.31 on Friday. The stock has a market capitalization of $15.74 billion, a PE ratio of -197.44 and a beta of 0.83. Brookfield Infrastructure Partners L.P. has a 12 month low of $33.85 and a 12 month high of $54.77. The business has a 50 day simple moving average of $52.36 and a 200-day simple moving average of $50.00.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Tuesday, February 2nd. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.29). The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Brookfield Infrastructure Partners had a net margin of 1.14% and a return on equity of 0.47%. During the same quarter last year, the firm earned $0.86 earnings per share. Equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Friday, February 26th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.83%. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, February 25th. Brookfield Infrastructure Partners’s payout ratio is presently 2,771.43%.
A number of research firms have weighed in on BIP. Barclays lifted their price objective on Brookfield Infrastructure Partners from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 9th. Raymond James set a $65.00 price target on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, February 12th. TD Securities lifted their price target on Brookfield Infrastructure Partners from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Royal Bank of Canada lifted their price target on Brookfield Infrastructure Partners from $57.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Finally, National Bank Financial lifted their price target on Brookfield Infrastructure Partners from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $56.27.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses in North and South America, Europe, and the Asia Pacific. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines; and approximately 6.7 million electricity and natural gas connections, as well as operates coal export terminals.
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