Transcend Capital Advisors LLC Takes $554,000 Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Transcend Capital Advisors LLC bought a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 18,600 shares of the utilities provider's stock, valued at approximately $554,000.

Several other hedge funds have also bought and sold shares of BIP. Promus Capital LLC acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at $26,000. Larson Financial Group LLC bought a new position in Brookfield Infrastructure Partners in the 4th quarter valued at about $30,000. Parallel Advisors LLC acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth approximately $45,000. Farther Finance Advisors LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 565.6% during the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after acquiring an additional 1,906 shares during the period. Finally, Capital Analysts LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 85.8% during the fourth quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after acquiring an additional 2,020 shares during the period. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIP. Royal Bank Of Canada reiterated an "outperform" rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Citigroup lowered their price objective on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of "Buy" and an average price target of $41.67.

Brookfield Infrastructure Partners Price Performance

NYSE BIP traded up $0.27 on Wednesday, hitting $33.82. 254,067 shares of the company's stock were exchanged, compared to its average volume of 442,602. The stock has a 50-day moving average of $32.31 and a 200-day moving average of $31.38. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of -1,692.65 and a beta of 1.08. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.50. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.04% and a net margin of 1.41%. The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company earned $0.78 EPS. Analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.09%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently -8,600.00%.

About Brookfield Infrastructure Partners

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.