30,121 Shares of Brookfield Infrastructure Partners LP $BIP Purchased by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC bought a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the third quarter, Holdings Channel.com reports. The fund bought 30,121 shares of the utilities provider’s stock, valued at approximately $1,075,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Partners Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at about $5,926,000. Sawyer & Company Inc purchased a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $133,000. Rare Wolf Capital LLC purchased a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $358,000. Louisbourg Investments Inc. acquired a new position in Brookfield Infrastructure Partners during the third quarter worth approximately $172,000. Finally, Sterling Investment Counsel LLC acquired a new position in Brookfield Infrastructure Partners during the third quarter worth approximately $239,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $36.43 on Thursday. Brookfield Infrastructure Partners LP has a one year low of $33.21 and a one year high of $44.03. The stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 58.76 and a beta of 1.06. The company has a 50-day simple moving average of $36.99 and a 200-day simple moving average of $37.67. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. On average, analysts predict that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

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 of this dividend was Monday, August 31st. This represents a $1.82 annualized dividend and a yield of 5.0%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 293.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Brookfield Infrastructure Partners from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, October 13th. Weiss Ratings raised Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Citigroup restated 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 reaffirmed an “outperform” rating and issued a $47.00 target price (up from $45.00) on shares of Brookfield Infrastructure Partners in a report on Friday, July 31st. Finally, National Bank Financial lifted their target price on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average 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.