SCS Capital Management LLC Invests $24.79 Million in Brookfield Infrastructure Partners LP $BIP

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 stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 832,033 shares of the utilities provider's stock, valued at approximately $24,786,000. SCS Capital Management LLC owned about 0.18% of Brookfield Infrastructure Partners at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIP. GAMMA Investing LLC increased its stake in shares of Brookfield Infrastructure Partners by 947.1% during the 1st quarter. GAMMA Investing LLC now owns 9,026 shares of the utilities provider's stock worth $269,000 after purchasing an additional 8,164 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Brookfield Infrastructure Partners by 565.6% during 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 during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $320,000. Envestnet Asset Management Inc. grew its stake in Brookfield Infrastructure Partners by 18.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 89,377 shares of the utilities provider's stock valued at $2,663,000 after buying an additional 13,788 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Brookfield Infrastructure Partners by 15.0% in the 4th quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider's stock valued at $11,900,000 after buying an additional 48,787 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIP has been the subject of a number of recent research reports. Jefferies Financial Group initiated 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. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $41.00.

Brookfield Infrastructure Partners Price Performance

Shares of BIP traded down $0.35 during mid-day trading on Friday, reaching $30.65. 409,406 shares of the stock traded hands, compared to its average volume of 518,195. The firm has a fifty day moving average price of $31.29 and a 200 day moving average price of $31.05. The company has a market cap of $14.21 billion, a price-to-earnings ratio of 613.16 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The firm had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, equities research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

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

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.