AGF Management Ltd. Acquires 426,248 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• AGF Management Ltd. increased its stake in Brookfield Infrastructure Partners LP by 18.6% in the 1st quarter, owning approximately 2.72 million shares valued at $80.98 million.
• Brookfield Infrastructure Partners reported earnings of $0.81 per share for the last quarter, missing the consensus estimate by $0.01, with a net margin of 1.54%.
• The firm announced a quarterly dividend of $0.43 per share, representing an annual yield of 5.7%, and has a high dividend payout ratio of 3,440.00%.

AGF Management Ltd. boosted its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 18.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,722,101 shares of the utilities provider's stock after purchasing an additional 426,248 shares during the quarter. AGF Management Ltd. owned about 0.59% of Brookfield Infrastructure Partners worth $80,980,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIP. CCLA Investment Management raised its holdings in Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider's stock worth $172,537,000 after purchasing an additional 1,453,772 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Brookfield Infrastructure Partners by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after purchasing an additional 945,462 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Brookfield Infrastructure Partners during the 4th quarter worth about $22,033,000. Guardian Capital LP bought a new stake in Brookfield Infrastructure Partners during the 4th quarter worth about $21,099,000. Finally, Mackenzie Financial Corp raised its holdings in Brookfield Infrastructure Partners by 8.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock worth $278,858,000 after purchasing an additional 650,892 shares during the last quarter. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Up 0.4%

Shares of BIP traded up $0.13 on Wednesday, hitting $30.46. The company's stock had a trading volume of 423,502 shares, compared to its average volume of 488,698. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The firm's fifty day moving average price is $32.44 and its 200-day moving average price is $31.39. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 609.40 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings data 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). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on BIP shares. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup lowered their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Brookfield Infrastructure Partners Company Profile

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.