Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 39.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,064 shares of the utilities provider’s stock after purchasing an additional 5,398 shares during the quarter. Geode Capital Management LLC’s holdings in Brookfield Infrastructure Partners were worth $606,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIP. Principal Financial Group Inc. raised its position in Brookfield Infrastructure Partners by 2.7% in the third quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock valued at $834,282,000 after purchasing an additional 616,373 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $101,000. B. Riley Wealth Advisors Inc. purchased a new position in Brookfield Infrastructure Partners in the 3rd quarter worth approximately $277,000. JPMorgan Chase & Co. grew its position in Brookfield Infrastructure Partners by 24.0% in the third quarter. JPMorgan Chase & Co. now owns 22,130 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 4,281 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Brookfield Infrastructure Partners by 8,540.8% during the fourth quarter. UMB Bank n.a. now owns 28,774 shares of the utilities provider’s stock valued at $915,000 after purchasing an additional 28,441 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

BIP stock opened at $30.95 on Friday. The firm has a market cap of $14.37 billion, a P/E ratio of 773.94 and a beta of 1.04. The stock’s 50 day simple moving average is $29.15 and its 200 day simple moving average is $31.96. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 12-month low of $25.72 and a 12-month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.43 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.72 dividend on an annualized basis and a yield of 5.56%. Brookfield Infrastructure Partners’s payout ratio is currently 4,300.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BIP. TD Securities raised their price target on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Scotiabank raised their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Citigroup cut their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $41.67.

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.