Oppenheimer & Co. Inc. bought a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 7,666 shares of the utilities provider’s stock, valued at approximately $306,000.
Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Brookfield Infrastructure Partners by 2.0% during the first quarter. Principal Financial Group Inc. now owns 9,053,134 shares of the utilities provider’s stock valued at $376,968,000 after buying an additional 178,462 shares in the last quarter. Chicago Capital LLC purchased a new position in Brookfield Infrastructure Partners in the second quarter valued at about $232,000. Intact Investment Management Inc. grew its stake in Brookfield Infrastructure Partners by 5.4% in the second quarter. Intact Investment Management Inc. now owns 1,014,600 shares of the utilities provider’s stock valued at $51,136,000 after purchasing an additional 52,400 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in Brookfield Infrastructure Partners by 11.0% in the second quarter. K.J. Harrison & Partners Inc now owns 110,233 shares of the utilities provider’s stock valued at $4,230,000 after purchasing an additional 10,929 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Brookfield Infrastructure Partners by 15.4% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 29,913 shares of the utilities provider’s stock valued at $1,149,000 after purchasing an additional 4,000 shares in the last quarter. 47.42% of the stock is owned by institutional investors and hedge funds.
BIP has been the topic of a number of recent research reports. Royal Bank of Canada boosted their target price on Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, August 3rd. ValuEngine downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Citigroup set a $43.00 target price on Brookfield Infrastructure Partners and gave the company a “neutral” rating in a research note on Monday, August 27th. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Monday, September 10th. Finally, Credit Suisse Group set a $46.00 target price on Brookfield Infrastructure Partners and gave the company a “buy” rating in a research note on Thursday, September 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and a consensus target price of $46.27.
BIP opened at $40.32 on Friday. The stock has a market cap of $11.11 billion, a PE ratio of 45.07, a P/E/G ratio of 1.29 and a beta of 0.96. Brookfield Infrastructure Partners L.P. has a 52-week low of $36.84 and a 52-week high of $46.88.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Friday, November 2nd. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.82). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $795.00 million. Brookfield Infrastructure Partners had a return on equity of 3.54% and a net margin of 8.22%. On average, research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 4.66%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 124.50%.
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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.
Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)
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