Gen Wealth Partners Inc Buys New Holdings in Brookfield Infrastructure Partners LP $BIP

Gen Wealth Partners Inc purchased a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 28,279 shares of the utilities provider’s stock, valued at approximately $1,005,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Nova Scotia grew its stake in shares of Brookfield Infrastructure Partners by 28.0% in the 1st quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock valued at $101,409,000 after buying an additional 614,531 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Brookfield Infrastructure Partners by 55.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after buying an additional 979,842 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at approximately $76,976,000. Addenda Capital Inc. raised its position in shares of Brookfield Infrastructure Partners by 0.7% during the 2nd quarter. Addenda Capital Inc. now owns 777,392 shares of the utilities provider’s stock valued at $28,367,000 after buying an additional 5,534 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Brookfield Infrastructure Partners by 1.4% in the first quarter. Bank of America Corp DE now owns 555,778 shares of the utilities provider’s stock valued at $20,075,000 after acquiring an additional 7,931 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Down 0.5%

Shares of BIP stock opened at $39.46 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.34 and a quick ratio of 0.84. The firm has a market cap of $18.06 billion, a PE ratio of 11.11 and a beta of 1.06. The company has a 50-day moving average of $36.72 and a two-hundred day moving average of $37.60. Brookfield Infrastructure Partners LP has a 1-year low of $33.21 and a 1-year high of $44.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Friday, November 6th. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.94). The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $2.20 billion. Brookfield Infrastructure Partners had a net margin of 1.98% and a return on equity of 1.55%. Brookfield Infrastructure Partners’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, analysts predict that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIP. BMO Capital Markets increased their price objective on Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wall Street Zen downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Canadian Imperial Bank of Commerce set a $44.00 target price on Brookfield Infrastructure Partners and gave the company an “outperformer” rating in a research report on Thursday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Infrastructure Partners in a research note on Tuesday, November 3rd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure businesses. The partnership invests in assets that support the movement and delivery of energy, goods, data and other services. Its operations span utilities, transport, midstream and data infrastructure. These businesses include electricity and natural gas networks, railways, ports and toll roads, natural gas pipelines and storage, and communications infrastructure such as fiber networks and data centers.