Cardinal Point Capital Management ULC Makes New $1.07 Million Investment in Brookfield Infrastructure Partners LP $BIP

Key Points

• Cardinal Point Capital Management initiated a $1.07 million position in Brookfield Infrastructure Partners during the third quarter by purchasing 30,121 shares. Institutional investors and hedge funds collectively own 57.92% of the company.
• Brookfield Infrastructure Partners reported quarterly EPS of $0.89, well above the $0.16 consensus estimate, while revenue rose 19.4% year over year to $6.48 billion.
• The partnership pays a quarterly dividend of $0.455 per share, equivalent to an annualized $1.82 and a 5.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.11, versus a recent share price of $36.43.

Cardinal Point Capital Management ULC bought a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 30,121 shares of the utilities provider's stock, valued at approximately $1,075,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIP. Western Pacific Wealth Management LP acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at about $27,000. Allied Private Wealth LLC purchased a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at about $37,000. Bank & Trust Co acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter worth about $40,000. NFSG Corp acquired a new position in shares of Brookfield Infrastructure Partners during the third quarter worth about $42,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $49,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $36.43 on Thursday. The business has a 50 day moving average price of $36.99 and a 200 day moving average price of $37.67. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 58.76 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. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.73. The firm had revenue of $6.48 billion during the quarter, compared to the consensus estimate of $2.23 billion. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 earnings per share. Equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were given a dividend of $0.4550 per share. This represents a $1.82 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, August 31st. Brookfield Infrastructure Partners's payout ratio is currently 293.55%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley reduced 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 report on Tuesday, October 13th. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Brookfield Infrastructure Partners from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $47.00 target price (up from $45.00) on shares of Brookfield Infrastructure Partners in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.11.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. NYSE: BIP is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.

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