Capital World Investors boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 0.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,666,042 shares of the utilities provider's stock after purchasing an additional 6,191 shares during the period. Capital World Investors owned about 6.44% of Brookfield Infrastructure Partners worth $1,302,208,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BIP. 1832 Asset Management L.P. lifted its stake in Brookfield Infrastructure Partners by 23.3% in the 4th quarter. 1832 Asset Management L.P. now owns 9,797,627 shares of the utilities provider's stock valued at $594,607,000 after purchasing an additional 1,851,562 shares during the last quarter. CCLA Investment Management Ltd lifted its stake in Brookfield Infrastructure Partners by 888.5% in the 1st quarter. CCLA Investment Management Ltd now owns 974,847 shares of the utilities provider's stock valued at $63,685,000 after purchasing an additional 876,227 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Brookfield Infrastructure Partners by 55.6% in the 4th quarter. Mackenzie Financial Corp now owns 2,030,320 shares of the utilities provider's stock valued at $123,578,000 after purchasing an additional 725,690 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Brookfield Infrastructure Partners by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider's stock valued at $420,203,000 after purchasing an additional 685,194 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Infrastructure Partners by 29.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,560,423 shares of the utilities provider's stock valued at $169,492,000 after purchasing an additional 581,862 shares during the last quarter. Institutional investors own 55.37% of the company's stock.
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Shares of NYSE BIP opened at $42.30 on Thursday. Brookfield Infrastructure Partners L.P. has a twelve month low of $35.81 and a twelve month high of $46.01. The firm has a fifty day simple moving average of $40.57 and a 200 day simple moving average of $40.83. The company has a market capitalization of $19.37 billion, a PE ratio of 61.31 and a beta of 0.74.
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last announced its earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.53). Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the business earned $0.57 EPS. Brookfield Infrastructure Partners's quarterly revenue was up 38.2% on a year-over-year basis. As a group, equities analysts expect that Brookfield Infrastructure Partners L.P. will post 2.69 earnings per share for the current fiscal year.Brookfield Infrastructure Partners Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, August 30th. Brookfield Infrastructure Partners's dividend payout ratio is presently 208.70%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, August 4th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a "neutral" rating to an "outperform" rating and set a $49.50 price target for the company in a research note on Thursday, June 30th. Finally, StockNews.com downgraded shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.
Brookfield Infrastructure Partners Company Profile
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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.
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