Lakewood Asset Management LLC Acquires 14,369 Shares of Brookfield Infrastructure Partners LP $BIP

Lakewood Asset Management LLC acquired a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,369 shares of the utilities provider’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BIP. Western Pacific Wealth Management LP acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at about $27,000. Allied Private Wealth LLC bought a new position in Brookfield Infrastructure Partners during the second quarter worth about $37,000. Bank & Trust Co acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth about $40,000. NFSG Corp acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth about $42,000. Finally, Global Assets Advisory LLC acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter worth about $49,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 0.7%

Shares of NYSE BIP opened at $36.79 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89. Brookfield Infrastructure Partners LP has a 52 week low of $33.21 and a 52 week high of $44.03. The stock has a market capitalization of $16.84 billion, a P/E ratio of 59.34 and a beta of 1.06. The stock’s fifty day moving average is $36.88 and its 200 day moving average is $37.40.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The business had revenue of $6.48 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Brookfield Infrastructure Partners’s revenue for the quarter was up 19.4% compared to the same quarter last year. Sell-side analysts forecast that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were issued a $0.4550 dividend. This represents a $1.82 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 293.55%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Citigroup reaffirmed a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Canadian Imperial Bank of Commerce set a $44.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperformer” rating in a research report on Thursday. Finally, Morgan Stanley cut their price target on Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and a consensus target price of $44.78.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.