Oak Grove Capital LLC Purchases 82,600 Shares of Brookfield Infrastructure Partners LP $BIP

Key Points

• Oak Grove Capital acquired 82,600 Brookfield Infrastructure Partners shares during the third quarter, worth approximately $2.94 million. Institutional investors collectively own 57.92% of BIP.
• Brookfield Infrastructure Partners reported quarterly EPS of $0.89, exceeding the $0.16 consensus estimate, while revenue rose 19.4% year over year to $6.48 billion.
• The company’s quarterly dividend is $0.455 per share, representing an annualized payout of $1.82 and a 4.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.33, above the reported $37.12 share price.

Oak Grove Capital LLC acquired a new position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 82,600 shares of the utilities provider's stock, valued at approximately $2,936,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirador Capital Partners LP acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter valued at about $209,000. Farther Finance Advisors LLC acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter worth about $216,000. Bank & Trust Co purchased a new position in Brookfield Infrastructure Partners in the third quarter valued at about $40,000. QRG Capital Management Inc. boosted its holdings in Brookfield Infrastructure Partners by 5.2% in the second quarter. QRG Capital Management Inc. now owns 8,721 shares of the utilities provider's stock valued at $318,000 after purchasing an additional 433 shares during the last quarter. Finally, Wellington Grp LLC grew its stake in Brookfield Infrastructure Partners by 55.8% during the 2nd quarter. Wellington Grp LLC now owns 24,714 shares of the utilities provider's stock valued at $902,000 after purchasing an additional 8,847 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $37.12 on Friday. The stock has a market capitalization of $17.09 billion, a P/E ratio of 59.87 and a beta of 1.06. The firm's 50-day moving average price is $37.40 and its two-hundred day moving average price is $37.59. Brookfield Infrastructure Partners LP has a 52-week low of $33.21 and a 52-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, topping the consensus estimate of $0.16 by $0.73. The business had revenue of $6.48 billion for 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 business's revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. As a group, sell-side analysts forecast that Brookfield Infrastructure Partners LP will post 3.66 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were issued a dividend of $0.4550 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.82 annualized dividend and a dividend yield of 4.9%. Brookfield Infrastructure Partners's payout ratio is 293.55%.

Wall Street Analysts Forecast Growth

BIP has been the topic of several analyst reports. National Bank Financial lifted their price objective on Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Citigroup restated a "neutral" rating and issued a $41.00 price target (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $50.00 price target on shares of Brookfield Infrastructure Partners in a report on Wednesday, August 12th. Finally, Wall Street Zen downgraded shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.33.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership's portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.

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