166,096 Shares in Brookfield Infrastructure Partners LP $BIP Acquired by Guardian Partners Inc.

Guardian Partners Inc. acquired a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 166,096 shares of the utilities provider’s stock, valued at approximately $5,926,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIP. Ninepoint Partners LP bought a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter worth $2,452,000. The Manufacturers Life Insurance Company grew its position in Brookfield Infrastructure Partners by 55.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after purchasing an additional 979,842 shares during the period. Gold Investment Management Ltd. bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter valued at $6,435,000. Oak Grove Capital LLC bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter valued at $2,936,000. Finally, Herold Advisors Inc. bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter valued at $3,202,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 0.9%

BIP stock opened at $36.43 on Thursday. Brookfield Infrastructure Partners LP has a twelve month low of $33.21 and a twelve month high of $44.03. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. The stock’s 50 day moving average is $36.99 and its 200-day moving average is $37.67. The firm has a market capitalization of $16.68 billion, a PE ratio of 10.53 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The company had revenue of $6.48 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Brookfield Infrastructure Partners’s quarterly revenue was up 19.4% on a year-over-year basis. Sell-side analysts expect that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were paid a dividend of $0.4550 per share. The ex-dividend date was Monday, August 31st. This represents a $1.82 annualized dividend and a yield of 5.0%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 293.55%.

Wall Street Analysts Forecast Growth

BIP has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Citigroup reissued a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $47.00 target price (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Finally, BMO Capital Markets upped their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.11.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on long-term, durable cash flows and assets that are difficult to replicate.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. The portfolio includes regulated and contracted businesses such as electricity and natural gas transmission and distribution systems, rail and port operations, natural gas pipelines and processing facilities, fiber-optic networks, data centers, and other communications infrastructure.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.