Goldman Sachs Group Inc. Purchases 1,317,669 Shares of Brookfield Infrastructure Partners LP $BIP

Key Points

• Goldman Sachs boosted its stake in Brookfield Infrastructure Partners by 68.4% in the fourth quarter, buying 1,317,669 additional shares and ending with 3,243,218 shares valued at about $112.7 million.
• Brookfield Infrastructure Partners reported stronger-than-expected quarterly results, with EPS of $0.90 versus the $0.28 consensus estimate and revenue of $6.30 billion, while analysts now expect $3.59 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.455 per share, implying an annualized yield of 4.7%, and analysts currently hold a consensus rating of Moderate Buy with a $44.63 price target.

Goldman Sachs Group Inc. lifted its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 68.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,243,218 shares of the utilities provider's stock after buying an additional 1,317,669 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.70% of Brookfield Infrastructure Partners worth $112,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIP. Focus Partners Wealth grew its position in shares of Brookfield Infrastructure Partners by 8.5% during the 1st quarter. Focus Partners Wealth now owns 24,734 shares of the utilities provider's stock worth $737,000 after buying an additional 1,931 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter worth $2,595,000. Glenview Trust co bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter worth $201,000. Raymond James Financial Inc. grew its position in shares of Brookfield Infrastructure Partners by 8.8% during the 2nd quarter. Raymond James Financial Inc. now owns 724,975 shares of the utilities provider's stock worth $24,287,000 after buying an additional 58,511 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 12.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 58,735 shares of the utilities provider's stock worth $1,968,000 after purchasing an additional 6,322 shares during the last quarter. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Trading Down 0.2%

Shares of NYSE BIP opened at $38.72 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. The stock has a market capitalization of $17.92 billion, a P/E ratio of 58.67 and a beta of 1.05. Brookfield Infrastructure Partners LP has a 1-year low of $29.63 and a 1-year high of $40.32. The business has a fifty day moving average price of $37.31 and a 200 day moving average price of $36.59.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.62. Brookfield Infrastructure Partners had a return on equity of 2.54% and a net margin of 3.46%.The firm had revenue of $6.30 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the business posted $0.82 EPS. Equities research analysts expect that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.455 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.82 dividend on an annualized basis and a yield of 4.7%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is 275.76%.

Insider Buying and Selling

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant purchased 1,150 shares of the firm's stock in a transaction on Friday, May 1st. The stock was bought at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the completion of the purchase, the chief financial officer owned 2,150 shares in the company, valued at $103,415. This represents a 115.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BIP shares. National Bank Financial upped their price objective on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $45.00 price objective (up from $44.00) on shares of Brookfield Infrastructure Partners in a research note on Tuesday, May 26th. Morgan Stanley upped their price objective on Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings cut Brookfield Infrastructure Partners from a "hold (c+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.63.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. NYSE: BIP is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company's utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.

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