Parallel Advisors LLC Takes Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Parallel Advisors LLC bought a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,500 shares of the utilities provider’s stock, valued at approximately $45,000.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Brookfield Infrastructure Partners by 947.1% in the first quarter. GAMMA Investing LLC now owns 9,026 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 8,164 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Brookfield Infrastructure Partners by 8.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider’s stock valued at $278,858,000 after acquiring an additional 650,892 shares during the last quarter. JT Stratford LLC raised its stake in shares of Brookfield Infrastructure Partners by 13.0% in the fourth quarter. JT Stratford LLC now owns 71,204 shares of the utilities provider’s stock valued at $2,264,000 after acquiring an additional 8,211 shares during the last quarter. Waverly Advisors LLC bought a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at approximately $344,000. Finally, Meketa Capital LLC bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth approximately $1,423,000. Institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Citigroup dropped their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank boosted their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $41.67.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $33.51 on Monday. The firm has a fifty day moving average of $30.66 and a two-hundred day moving average of $31.52. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 837.98 and a beta of 1.09. Brookfield Infrastructure Partners L.P. has a 52 week low of $25.72 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $2 billion. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. During the same quarter in the previous year, the company posted $0.78 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -8,600.00%.

About Brookfield Infrastructure Partners

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.