Forge First Asset Management Inc. Has $4.44 Million Stake in 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. grew its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 105.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 about 1.9% of Forge First Asset Management Inc.'s holdings, making the stock its 17th largest holding. Forge First Asset Management Inc.'s holdings in Brookfield Infrastructure Partners were worth $4,437,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $35,000. Parallel Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at $45,000. Farther Finance Advisors LLC increased its holdings 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 valued at $68,000 after purchasing an additional 1,906 shares in the last quarter. Capital Analysts LLC increased its holdings 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 valued at $139,000 after purchasing an additional 2,020 shares in the last quarter. Finally, MGO One Seven LLC grew its stake in shares of Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock valued at $226,000 after acquiring an additional 372 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Down 1.2%

Shares of Brookfield Infrastructure Partners stock traded down $0.37 on Wednesday, hitting $30.95. 571,995 shares of the company traded hands, compared to its average volume of 512,400. The company has a market cap of $14.37 billion, a PE ratio of 619.02 and a beta of 1.09. The company has a quick ratio of 0.73, a current ratio of 0.11 and a debt-to-equity ratio of 1.64. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.50. The company has a 50-day moving average price of $32.79 and a 200 day moving average price of $31.48.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. Sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio is 3,440.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIP. Citigroup cut their target price on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of "Moderate Buy" and a consensus 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.