Bank of New York Mellon Corp raised its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,880 shares of the utilities provider’s stock after purchasing an additional 3,726 shares during the period. Bank of New York Mellon Corp’s holdings in Brookfield Infrastructure Partners were worth $1,801,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BIP. Russell Investments Group Ltd. lifted its position in Brookfield Infrastructure Partners by 107.0% during the 1st quarter. Russell Investments Group Ltd. now owns 321,288 shares of the utilities provider’s stock worth $13,350,000 after buying an additional 166,098 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Infrastructure Partners by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 9,053,134 shares of the utilities provider’s stock worth $376,968,000 after buying an additional 178,462 shares in the last quarter. UBS Group AG lifted its position in Brookfield Infrastructure Partners by 5.1% during the 1st quarter. UBS Group AG now owns 282,223 shares of the utilities provider’s stock worth $11,751,000 after buying an additional 13,772 shares in the last quarter. Jane Street Group LLC lifted its position in Brookfield Infrastructure Partners by 122.6% during the 1st quarter. Jane Street Group LLC now owns 61,550 shares of the utilities provider’s stock worth $2,563,000 after buying an additional 33,898 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new position in Brookfield Infrastructure Partners during the 1st quarter worth about $3,150,000. 37.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:BIP opened at $39.82 on Friday. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.25 and a beta of 0.95. Brookfield Infrastructure Partners L.P. has a 1-year low of $37.27 and a 1-year high of $46.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.42 and a quick ratio of 0.42.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.55). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $833.00 million. Brookfield Infrastructure Partners had a return on equity of 3.29% and a net margin of 8.25%. As a group, sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, August 30th. This represents a $1.88 annualized dividend and a yield of 4.72%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 124.50%.
Several research analysts recently issued reports on the stock. Credit Suisse Group set a $46.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “buy” rating in a research report on Thursday, September 13th. Citigroup set a $43.00 price objective on Brookfield Infrastructure Partners and gave the stock a “neutral” rating in a report on Monday, August 27th. Zacks Investment Research cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Monday, September 10th. ValuEngine raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Friday. Finally, Bank of America initiated coverage on Brookfield Infrastructure Partners in a report on Tuesday, July 10th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners currently has an average rating of “Buy” and an average target price of $46.70.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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