832,033 Shares in Brookfield Infrastructure Partners LP $BIP Purchased by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC acquired a new stake in Brookfield Infrastructure Partners LP worth approximately $24.8 million, holding about 0.18% of the company as of the latest SEC filing.
• Analysts have varied ratings on BIP, with Royal Bank of Canada setting a price target of $40.00 and an "outperform" rating, while others, like Wall Street Zen, downgraded the stock to a "sell" rating.
• Brookfield Infrastructure Partners announced a quarterly dividend of $0.43, yielding an annualized rate of 5.5%, set to be paid on September 29th.

SCS Capital Management LLC purchased a new position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 832,033 shares of the utilities provider's stock, valued at approximately $24,786,000. SCS Capital Management LLC owned approximately 0.18% of Brookfield Infrastructure Partners at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Capital Inc. purchased a new position in Brookfield Infrastructure Partners in the 1st quarter worth approximately $35,000. SouthState Corp purchased a new position in Brookfield Infrastructure Partners in the 1st quarter worth approximately $37,000. Parallel Advisors LLC purchased a new position in Brookfield Infrastructure Partners in the 1st quarter worth approximately $45,000. Farther Finance Advisors LLC grew 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 buying an additional 1,906 shares in the last quarter. Finally, Pandora Wealth Inc. purchased a new position in Brookfield Infrastructure Partners in the 1st quarter worth approximately $80,000. Hedge funds and other institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Trading Down 1.1%

BIP traded down $0.35 during trading on Friday, hitting $30.65. 409,406 shares of the stock traded hands, compared to its average volume of 518,195. The firm has a market capitalization of $14.21 billion, a P/E ratio of 613.16 and a beta of 1.10. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a 50-day moving average of $31.29 and a 200 day moving average of $31.05. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share 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 firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the previous year, the company earned $0.77 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on BIP shares. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Finally, Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a research note on Friday, August 29th. They issued a "buy" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $41.00.

Brookfield Infrastructure Partners 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.