Ironwood Investment Counsel LLC Makes New Investment in Brookfield Infrastructure Partners LP $BIP

Ironwood Investment Counsel LLC acquired a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,568 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp purchased a new position in Brookfield Infrastructure Partners during the 1st quarter valued at about $37,000. Pandora Wealth Inc. purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $80,000. Harbour Investments Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 23.1% in the second quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 474 shares in the last quarter. State of Wyoming acquired a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $97,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Brookfield Infrastructure Partners by 9.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock worth $115,000 after buying an additional 325 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

BIP has been the subject of several research reports. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “hold” rating in a research note on Wednesday, October 29th. National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.43.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $35.75 on Thursday. The company’s 50 day simple moving average is $33.25 and its 200-day simple moving average is $32.47. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.10. The firm has a market cap of $16.57 billion, a PE ratio of 715.14 and a beta of 1.14. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.72 annualized dividend and a yield of 4.8%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 256.72%.

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.