Tiverton Asset Management LLC acquired a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,934 shares of the utilities provider’s stock, valued at approximately $513,000.
A number of other institutional investors have also added to or reduced their stakes in BIP. Gradient Investments LLC boosted its position in Brookfield Infrastructure Partners by 40.0% during the 2nd quarter. Gradient Investments LLC now owns 1,050 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 300 shares during the period. Coastal Investment Advisors Inc. increased its stake in shares of Brookfield Infrastructure Partners by 266.7% during the second quarter. Coastal Investment Advisors Inc. now owns 1,100 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 800 shares during the period. Sandy Spring Bank bought a new stake in Brookfield Infrastructure Partners during the first quarter worth approximately $48,000. Winslow Evans & Crocker Inc. raised its holdings in Brookfield Infrastructure Partners by 235.1% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,674 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Hudock Capital Group LLC raised its holdings in Brookfield Infrastructure Partners by 10.3% during the second quarter. Hudock Capital Group LLC now owns 2,811 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 262 shares in the last quarter. 46.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on BIP. Raymond James increased their price target on Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. TD Securities upped their price objective on Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays reaffirmed a “hold” rating on shares of Brookfield Infrastructure Partners in a research note on Friday, August 2nd. Industrial Alliance Securities raised their target price on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research lowered Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $47.41.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Friday, August 2nd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Brookfield Infrastructure Partners had a return on equity of 1.40% and a net margin of 3.32%. The company’s quarterly revenue was up 61.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. As a group, research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.44 earnings per share for the current fiscal year.
The business also recently announced a dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 340.68%.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The 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 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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