QRG Capital Management Inc. Invests $205,000 in Brookfield Infrastructure Partners LP $BIP

QRG Capital Management Inc. bought a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,109 shares of the utilities provider’s stock, valued at approximately $205,000.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Brookfield Infrastructure Partners by 947.1% during the 1st quarter. GAMMA Investing LLC now owns 9,026 shares of the utilities provider’s stock worth $269,000 after acquiring an additional 8,164 shares in the last quarter. Addenda Capital Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 13.5% during the 2nd quarter. Addenda Capital Inc. now owns 704,591 shares of the utilities provider’s stock worth $23,604,000 after acquiring an additional 83,770 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 99.5% during the 2nd quarter. Value Partners Investments Inc. now owns 47,294 shares of the utilities provider’s stock worth $1,581,000 after acquiring an additional 23,582 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Brookfield Infrastructure Partners by 565.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $320,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BIP shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. National Bank Financial raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Jefferies Financial Group assumed coverage on shares of Brookfield Infrastructure Partners in a research note on Friday, August 29th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.14.

Brookfield Infrastructure Partners Trading Up 1.0%

BIP opened at $34.35 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. The company’s 50 day simple moving average is $31.45 and its two-hundred day simple moving average is $31.50. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 687.14 and a beta of 1.16.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business 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. Analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 3,440.00%.

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.