Brookfield Infrastructure Partners LP $BIP Shares Newly Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada bought 2.16 million Brookfield Infrastructure Partners shares worth approximately $77.0 million, giving it a 0.47% stake. Institutional investors collectively own 57.92% of the company.
• BIP shares recently traded at $37.45, near the middle of their 52-week range. The company reported quarterly revenue growth of 19.4% year over year and earnings that exceeded analyst expectations.
• Brookfield Infrastructure Partners pays an annualized dividend of $1.82 per share, yielding about 4.9%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $45.11.

TD Waterhouse Canada Inc. purchased a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,155,076 shares of the utilities provider's stock, valued at approximately $76,976,000. TD Waterhouse Canada Inc. owned 0.47% of Brookfield Infrastructure Partners as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia grew its holdings in shares of Brookfield Infrastructure Partners by 28.0% during the 1st quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider's stock worth $101,409,000 after purchasing an additional 614,531 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Infrastructure Partners by 55.0% in the first quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider's stock valued at $99,572,000 after purchasing an additional 979,842 shares in the last quarter. Addenda Capital Inc. lifted its position in Brookfield Infrastructure Partners by 0.7% in the second quarter. Addenda Capital Inc. now owns 777,392 shares of the utilities provider's stock worth $28,367,000 after purchasing an additional 5,534 shares during the period. Bank of America Corp DE lifted its position in Brookfield Infrastructure Partners by 1.4% in the first quarter. Bank of America Corp DE now owns 555,778 shares of the utilities provider's stock worth $20,075,000 after purchasing an additional 7,931 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Brookfield Infrastructure Partners by 0.9% in the first quarter. Sequoia Financial Advisors LLC now owns 497,642 shares of the utilities provider's stock worth $17,975,000 after purchasing an additional 4,422 shares during the period. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Price Performance

BIP stock traded up $0.18 during trading on Friday, hitting $37.45. The company had a trading volume of 807,350 shares, compared to its average volume of 791,775. The company has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $37.64. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market cap of $17.14 billion, a P/E ratio of 60.41 and a beta of 1.06. Brookfield Infrastructure Partners LP has a fifty-two week low of $33.21 and a fifty-two week high of $44.03.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.73. The firm had revenue of $6.48 billion for the quarter, compared to analysts' expectations of $2.23 billion. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The business's revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 earnings per share. Equities research analysts expect that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a dividend of $0.4550 per share. The ex-dividend date was Monday, August 31st. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is 293.55%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BIP shares. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a report on Friday, July 31st. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Morgan Stanley lowered their target price on shares of Brookfield Infrastructure Partners from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, National Bank Financial increased their price target on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.11.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership's portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.

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