JPMorgan Chase & Co. Raises Stock Position in Brookfield Infrastructure Partners LP $BIP

JPMorgan Chase & Co. lifted its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 278.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,649 shares of the utilities provider’s stock after buying an additional 240,326 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Brookfield Infrastructure Partners worth $10,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addenda Capital Inc. increased its position in shares of Brookfield Infrastructure Partners by 13.5% during the second quarter. Addenda Capital Inc. now owns 704,591 shares of the utilities provider’s stock worth $23,604,000 after purchasing an additional 83,770 shares in the last quarter. Value Partners Investments Inc. grew its stake in Brookfield Infrastructure Partners by 99.5% during the 2nd quarter. Value Partners Investments Inc. now owns 47,294 shares of the utilities provider’s stock worth $1,581,000 after buying an additional 23,582 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Brookfield Infrastructure Partners by 248.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,807 shares of the utilities provider’s stock worth $262,000 after buying an additional 5,564 shares during the last quarter. BROOKFIELD Corp ON increased its position in Brookfield Infrastructure Partners by 3.5% during the first quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock worth $139,611,000 after buying an additional 158,881 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Brookfield Infrastructure Partners by 6.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,449 shares of the utilities provider’s stock valued at $765,000 after buying an additional 1,347 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BIP. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a research report on Tuesday, December 2nd. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Morgan Stanley set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Tuesday, December 2nd. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Finally, National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and an average price target of $40.88.

Brookfield Infrastructure Partners Stock Down 1.2%

Shares of NYSE:BIP opened at $35.19 on Tuesday. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 52.52 and a beta of 1.09. The firm’s 50-day simple moving average is $34.84 and its 200-day simple moving average is $32.98. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.68. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). Brookfield Infrastructure Partners had a return on equity of 2.74% and a net margin of 3.70%.The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 256.72%.

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.