Sage Investment Counsel LLC Acquires 37,500 Shares of Brookfield Infrastructure Partners LP $BIP

Sage Investment Counsel LLC acquired a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 37,500 shares of the utilities provider’s stock, valued at approximately $1,333,000. Brookfield Infrastructure Partners makes up 1.3% of Sage Investment Counsel LLC’s portfolio, making the stock its 22nd largest holding.

Several other large investors have also bought and sold shares of the company. Western Pacific Wealth Management LP bought a new stake in Brookfield Infrastructure Partners in the third quarter worth about $27,000. Allied Private Wealth LLC acquired a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at about $37,000. Bank & Trust Co acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at about $40,000. NFSG Corp bought a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $42,000. Finally, Global Assets Advisory LLC bought a new position in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $49,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

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

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period 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. As a group, 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.4550 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.82 dividend on an annualized basis and a yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 293.55%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BIP. Citigroup reaffirmed a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Monday, August 3rd. National Bank Financial boosted their target price on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Morgan Stanley cut their target price on shares of 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. BMO Capital Markets raised their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.78.

Brookfield Infrastructure Partners 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.