Forge First Asset Management Inc. Acquires 76,300 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• Forge First Asset Management Inc. has increased its holdings in Brookfield Infrastructure Partners by 105.1%, now owning 148,898 shares worth approximately $4.44 million.
• The firm reported a $0.81 EPS for the last quarter, missing expectations by $0.01, with revenues of $5.43 billion, up 5.7% year-over-year.
• Brookfield Infrastructure Partners has announced a quarterly dividend of $0.43 per share, representing an annualized dividend yield of 5.5%.

Forge First Asset Management Inc. increased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 105.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,898 shares of the utilities provider's stock after buying an additional 76,300 shares during the period. Brookfield Infrastructure Partners accounts for 1.9% of Forge First Asset Management Inc.'s investment portfolio, making the stock its 17th biggest position. Forge First Asset Management Inc.'s holdings in Brookfield Infrastructure Partners were worth $4,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BIP. North Capital Inc. purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $35,000. Parallel Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $45,000. Farther Finance Advisors LLC lifted its stake in Brookfield Infrastructure Partners by 565.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after purchasing an additional 1,906 shares in the last quarter. Capital Analysts LLC lifted its stake in Brookfield Infrastructure Partners by 85.8% in the 4th quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after purchasing an additional 2,020 shares in the last quarter. Finally, MGO One Seven LLC lifted its stake in Brookfield Infrastructure Partners by 5.5% in the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after purchasing an additional 372 shares in the last quarter. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $31.12 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.77. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.50. The firm's fifty day moving average is $32.84 and its 200 day moving average is $31.47. The firm has a market cap of $14.45 billion, a P/E ratio of 622.52 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released 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 net margin of 1.54% and a return on equity of 1.15%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.77 EPS. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 5.5%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently -8,600.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIP. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup lowered their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of "Buy" and a consensus price target of $41.67.

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.

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.