Tritonpoint Wealth LLC Buys New Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Tritonpoint Wealth LLC purchased a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 155,797 shares of the utilities provider's stock, valued at approximately $4,906,000.

A number of other hedge funds also recently modified their holdings of BIP. Bank of Nova Scotia lifted its holdings in shares of Brookfield Infrastructure Partners by 413.9% during the third quarter. Bank of Nova Scotia now owns 4,278,411 shares of the utilities provider's stock worth $125,557,000 after purchasing an additional 3,445,832 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 11.7% during the third quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider's stock worth $480,326,000 after purchasing an additional 1,714,740 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider's stock worth $525,947,000 after purchasing an additional 1,362,482 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Brookfield Infrastructure Partners by 6.3% during the fourth quarter. 1832 Asset Management L.P. now owns 15,750,231 shares of the utilities provider's stock worth $488,100,000 after purchasing an additional 938,006 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider's stock worth $420,203,000 after purchasing an additional 685,194 shares during the period. Institutional investors and hedge funds own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Up 1.4 %

BIP traded up $0.39 during midday trading on Friday, hitting $28.84. The company had a trading volume of 439,579 shares, compared to its average volume of 403,214. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $37.32. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 206.01 and a beta of 0.95. The stock's 50 day moving average price is $30.16 and its 200 day moving average price is $28.85.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. The company had revenue of $4.97 billion during the quarter. On average, research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.32 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Brookfield Infrastructure Partners's previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 5.62%. Brookfield Infrastructure Partners's payout ratio is presently 1,157.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BIP shares. Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a report on Tuesday, February 27th. They set a "buy" rating on the stock. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating in a report on Tuesday, January 30th. TD Securities dropped their target price on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, February 2nd. National Bankshares lowered shares of Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating and set a $32.00 target price on the stock. in a report on Tuesday, January 30th. Finally, BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.11.

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.