MONECO Advisors LLC Makes New Investment in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

MONECO Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,077 shares of the utilities provider’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verity Asset Management Inc. raised its position in Brookfield Infrastructure Partners by 6.8% during the fourth quarter. Verity Asset Management Inc. now owns 5,137 shares of the utilities provider’s stock worth $312,000 after acquiring an additional 328 shares in the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in Brookfield Infrastructure Partners during the fourth quarter worth $215,000. Formidable Asset Management LLC raised its position in Brookfield Infrastructure Partners by 2.6% during the fourth quarter. Formidable Asset Management LLC now owns 14,859 shares of the utilities provider’s stock worth $904,000 after acquiring an additional 381 shares in the last quarter. Aurora Investment Counsel raised its position in shares of Brookfield Infrastructure Partners by 9.8% in the fourth quarter. Aurora Investment Counsel now owns 18,099 shares of the utilities provider’s stock valued at $1,101,000 after purchasing an additional 1,619 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Brookfield Infrastructure Partners by 13.5% in the fourth quarter. CIBC Asset Management Inc now owns 3,327,187 shares of the utilities provider’s stock valued at $202,367,000 after purchasing an additional 396,757 shares during the period. 53.98% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Up 1.3 %

Shares of Brookfield Infrastructure Partners stock opened at $41.02 on Friday. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 59.45 and a beta of 0.76. Brookfield Infrastructure Partners L.P. has a 12-month low of $35.81 and a 12-month high of $46.01. The firm’s 50-day moving average price is $39.37 and its two-hundred day moving average price is $40.58.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.50). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $2.12 billion. Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. On average, sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 2.75 earnings per share for the current year.

Brookfield Infrastructure Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.51%. Brookfield Infrastructure Partners’s payout ratio is currently 208.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BIP shares. National Bankshares increased their price objective on shares of Brookfield Infrastructure Partners from $45.33 to $46.00 and gave the company an “outperform” rating in a research report on Friday, May 6th. Raymond James set a $46.67 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Thursday, May 5th. Royal Bank of Canada increased their price objective on shares of Brookfield Infrastructure Partners from $43.33 to $46.67 and gave the company an “outperform” rating in a research report on Thursday, May 5th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price objective on the stock in a research report on Thursday, June 30th. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.80.

About Brookfield Infrastructure Partners

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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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

Further Reading

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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