Addenda Capital Inc. Has $23.60 Million Holdings in Brookfield Infrastructure Partners LP $BIP

Key Points

• Addenda Capital Inc. increased its stake in Brookfield Infrastructure Partners LP by 13.5% in Q2, owning 704,591 shares worth approximately $23.60 million.
• Multiple hedge funds have taken positions in Brookfield Infrastructure Partners, indicating significant institutional interest, with a total of 57.92% of shares held by institutional investors.
• Brookfield Infrastructure Partners recently declared a quarterly dividend of $0.43 per share, representing an annualized yield of 5.2% and a very high payout ratio of 3,440.00%.

Addenda Capital Inc. raised its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 13.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 704,591 shares of the utilities provider's stock after purchasing an additional 83,770 shares during the quarter. Brookfield Infrastructure Partners makes up 1.0% of Addenda Capital Inc.'s holdings, making the stock its 27th biggest position. Addenda Capital Inc. owned about 0.15% of Brookfield Infrastructure Partners worth $23,604,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. North Capital Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $35,000. SouthState Corp bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $37,000. Parallel Advisors LLC bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $45,000. Farther Finance Advisors LLC increased its position in shares of Brookfield Infrastructure Partners by 565.6% in the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after purchasing an additional 1,906 shares during the period. Finally, Pandora Wealth Inc. bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth $80,000. Institutional investors and hedge funds own 57.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. National Bank Financial upgraded Brookfield Infrastructure Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Wall Street Zen downgraded Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. National Bankshares set a $35.00 target price on Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a report on Friday. Finally, Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a "buy" rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners presently has an average rating of "Buy" and an average target price of $40.14.

Brookfield Infrastructure Partners Trading Up 4.9%

NYSE BIP opened at $33.08 on Friday. The business has a 50 day moving average price of $31.02 and a 200-day moving average price of $31.16. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.50. The company has a market cap of $15.33 billion, a price-to-earnings ratio of 661.81 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. As a group, equities analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio is currently 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.

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