Brookfield Infrastructure Partners LP $BIP Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 248.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,807 shares of the utilities provider’s stock after acquiring an additional 5,564 shares during the quarter. Farther Finance Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Brookfield Infrastructure Partners by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider’s stock valued at $822,832,000 after acquiring an additional 945,462 shares during the period. Scotia Capital Inc. increased its holdings in Brookfield Infrastructure Partners by 4.3% in the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider’s stock worth $197,811,000 after acquiring an additional 277,192 shares in the last quarter. CCLA Investment Management increased its holdings in Brookfield Infrastructure Partners by 33.5% in the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock worth $172,537,000 after acquiring an additional 1,453,772 shares in the last quarter. BROOKFIELD Corp ON increased its holdings in Brookfield Infrastructure Partners by 3.5% in the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock worth $139,611,000 after acquiring an additional 158,881 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in Brookfield Infrastructure Partners by 18.6% in the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider’s stock worth $80,980,000 after acquiring an additional 426,248 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. National Bank Financial raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday. Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Finally, Jefferies Financial Group assumed coverage on Brookfield Infrastructure Partners in a research note on Friday, August 29th. They issued a “buy” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Buy” and a consensus target price of $40.14.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $32.91 on Wednesday. The stock has a market cap of $15.25 billion, a PE ratio of 658.33 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners LP has a twelve month low of $25.72 and a twelve month high of $36.50. The stock has a fifty day simple moving average of $31.05 and a 200-day simple moving average of $31.23.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.2%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 3,440.00%.

Brookfield Infrastructure Partners 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.