Canton Hathaway LLC Acquires Shares of 16,350 Brookfield Infrastructure Partners LP (NYSE:BIP)

Canton Hathaway LLC acquired a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,350 shares of the utilities provider's stock, valued at approximately $487,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP raised its stake in Brookfield Infrastructure Partners by 53.8% in the fourth quarter. Allworth Financial LP now owns 6,861 shares of the utilities provider's stock valued at $222,000 after buying an additional 2,399 shares in the last quarter. Northern Trust Corp raised its stake in Brookfield Infrastructure Partners by 15.0% in the fourth quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider's stock valued at $11,900,000 after buying an additional 48,787 shares in the last quarter. Geode Capital Management LLC raised its stake in Brookfield Infrastructure Partners by 39.5% in the fourth quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider's stock valued at $606,000 after buying an additional 5,398 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at $5,306,000. Finally, Jones Financial Companies Lllp raised its stake in Brookfield Infrastructure Partners by 250.3% in the fourth quarter. Jones Financial Companies Lllp now owns 9,049 shares of the utilities provider's stock valued at $288,000 after buying an additional 6,466 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP traded down $0.04 during midday trading on Friday, reaching $32.53. 706,184 shares of the stock were exchanged, compared to its average volume of 442,705. The business's 50-day moving average price is $31.62 and its 200 day moving average price is $31.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.77 and a quick ratio of 0.73. Brookfield Infrastructure Partners LP has a twelve month low of $25.72 and a twelve month high of $36.50. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of -1,625.54 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.04% and a net margin of 1.41%. The business had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $2 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, sell-side analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is currently -8,600.00%.

Analyst Ratings Changes

BIP has been the topic of a number of analyst reports. Citigroup cut their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada restated an "outperform" rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price 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.