Tranquility Partners LLC Increases Stake in Brookfield Infrastructure Partners LP $BIP

Tranquility Partners LLC increased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,438 shares of the utilities provider’s stock after purchasing an additional 928 shares during the period. Brookfield Infrastructure Partners makes up about 1.0% of Tranquility Partners LLC’s holdings, making the stock its 19th biggest holding. Tranquility Partners LLC’s holdings in Brookfield Infrastructure Partners were worth $2,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Brookfield Infrastructure Partners by 3.5% during 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 buying an additional 945,462 shares during the last quarter. Scotia Capital Inc. raised its holdings in Brookfield Infrastructure Partners by 4.3% during the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider’s stock valued at $197,811,000 after buying an additional 277,192 shares during the last quarter. CCLA Investment Management raised its holdings in Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock valued at $172,537,000 after buying an additional 1,453,772 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in Brookfield Infrastructure Partners by 3.5% during the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock valued at $139,611,000 after buying an additional 158,881 shares during the last quarter. Finally, AGF Management Ltd. raised its holdings in Brookfield Infrastructure Partners by 18.6% during the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider’s stock valued at $80,980,000 after buying an additional 426,248 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. 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 Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Brookfield Infrastructure Partners in a report 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, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.14.

Brookfield Infrastructure Partners Stock Up 1.0%

NYSE:BIP opened at $34.35 on Friday. The firm’s 50-day moving average price is $31.45 and its 200-day moving average price is $31.50. The company has a market capitalization of $15.92 billion, a PE ratio of 687.14 and a beta of 1.16. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its 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 during 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 firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 earnings per share. On average, equities analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.0%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 3,440.00%.

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.