Addenda Capital Inc. Grows Position in Brookfield Infrastructure Partners LP $BIP

Addenda Capital Inc. raised its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 13.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 802,124 shares of the utilities provider’s stock after acquiring an additional 97,533 shares during the quarter. Brookfield Infrastructure Partners makes up about 1.0% of Addenda Capital Inc.’s holdings, making the stock its 28th biggest holding. Addenda Capital Inc. owned about 0.17% of Brookfield Infrastructure Partners worth $26,382,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Caldwell Trust Co purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter worth $66,000. Harbour Investments Inc. lifted its holdings in Brookfield Infrastructure Partners by 23.1% during the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after buying an additional 474 shares during the last quarter. State of Wyoming acquired a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $97,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 325 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Brookfield Infrastructure Partners by 11,333.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,430 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 3,400 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BIP. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a research note on Monday. Morgan Stanley set a $44.00 price objective on Brookfield Infrastructure Partners in a report on Tuesday, December 2nd. Finally, Wall Street Zen raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $41.25.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $34.51 on Friday. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 51.51 and a beta of 1.09. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.58. The firm has a 50-day simple moving average of $34.95 and a 200-day simple moving average of $33.07. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.81 and a current ratio of 0.85.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.42). The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 2.74% and a net margin of 3.70%.The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. On average, equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s payout ratio is currently 256.72%.

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.