Wulff Hansen & CO. raised its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 2,562.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,615,448 shares of the utilities provider’s stock after buying an additional 1,554,782 shares during the period. Wulff Hansen & CO. owned about 0.35% of Brookfield Infrastructure Partners worth $44,328,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc increased its stake in shares of Brookfield Infrastructure Partners by 20.0% in the 4th quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after purchasing an additional 1,112,217 shares in the last quarter. Gold Investment Management Ltd. purchased a new stake in Brookfield Infrastructure Partners in the fourth quarter worth about $5,330,000. Synergy Asset Management LLC purchased a new stake in Brookfield Infrastructure Partners in the first quarter worth about $4,919,000. Brown Advisory Inc. raised its stake in shares of Brookfield Infrastructure Partners by 11.0% in the fourth quarter. Brown Advisory Inc. now owns 385,416 shares of the utilities provider’s stock worth $12,137,000 after buying an additional 38,216 shares during the period. Finally, Forge First Asset Management Inc. lifted its position in shares of Brookfield Infrastructure Partners by 92.5% during the 1st quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider’s stock valued at $6,286,000 after buying an additional 96,890 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on BIP. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average target price of $37.56.
Brookfield Infrastructure Partners Price Performance
Shares of NYSE:BIP opened at $33.52 on Tuesday. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of 108.13 and a beta of 1.05. The firm has a fifty day moving average price of $31.26 and a 200 day moving average price of $29.62. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $33.83. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.70 by ($0.80). Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.
Brookfield Infrastructure Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 4.83%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.
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.
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