BROOKFIELD Corp ON Raises Stake in Brookfield Infrastructure Partners LP $BIP

Key Points

• BROOKFIELD Corp ON increased its stake in Brookfield Infrastructure Partners LP by 3.5%, holding approximately 4.69 million shares valued at about $139.61 million as of the latest SEC filing.
• Brookfield Infrastructure Partners has announced a quarterly dividend of $0.43, reflecting an annualized dividend of $1.72 and a dividend yield of 5.6%.
• Analysts have set various price targets for BIP, with Royal Bank Of Canada estimating a price objective of $40.00 and Jefferies Financial Group initiating coverage with a target of $35.00.

BROOKFIELD Corp ON boosted its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,686,497 shares of the utilities provider's stock after purchasing an additional 158,881 shares during the period. Brookfield Infrastructure Partners makes up 0.8% of BROOKFIELD Corp ON's investment portfolio, making the stock its 20th largest holding. BROOKFIELD Corp ON owned about 1.01% of Brookfield Infrastructure Partners worth $139,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIP. Northern Trust Corp raised its position in Brookfield Infrastructure Partners by 15.0% during the 4th quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider's stock worth $11,900,000 after buying an additional 48,787 shares during the last quarter. Ameriprise Financial Inc. raised its position in Brookfield Infrastructure Partners by 11.0% during the 4th quarter. Ameriprise Financial Inc. now owns 46,374 shares of the utilities provider's stock worth $1,474,000 after buying an additional 4,614 shares during the last quarter. Cetera Investment Advisers raised its position in Brookfield Infrastructure Partners by 6.4% during the 4th quarter. Cetera Investment Advisers now owns 39,968 shares of the utilities provider's stock worth $1,271,000 after buying an additional 2,401 shares during the last quarter. Focus Partners Wealth raised its position in Brookfield Infrastructure Partners by 103.3% during the 4th quarter. Focus Partners Wealth now owns 22,803 shares of the utilities provider's stock worth $759,000 after buying an additional 11,587 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new position in Brookfield Infrastructure Partners during the 4th quarter worth $344,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $30.95 on Friday. The firm has a market capitalization of $14.34 billion, a P/E ratio of 619.12 and a beta of 1.10. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.50. The company's fifty day moving average is $31.35 and its two-hundred day moving average is $31.07. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing the consensus estimate 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 company had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

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 $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.6%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently 3,440.00%.

Analysts Set New Price Targets

BIP has been the subject of a number of analyst reports. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Jefferies Financial Group initiated coverage on shares of Brookfield Infrastructure Partners in a research report on Friday, August 29th. They set a "buy" rating and a $35.00 price objective for the company. Finally, Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $41.00.

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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