JPMorgan Chase & Co. raised its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 52.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,015 shares of the utilities provider’s stock after buying an additional 5,500 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Infrastructure Partners were worth $688,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIP. Capital World Investors grew its holdings in Brookfield Infrastructure Partners by 58.9% in the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock valued at $213,297,000 after buying an additional 1,932,672 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at approximately $51,505,000. TD Asset Management Inc. grew its holdings in Brookfield Infrastructure Partners by 13.6% in the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock valued at $425,408,000 after buying an additional 1,183,668 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Brookfield Infrastructure Partners in the 3rd quarter valued at approximately $21,370,000. Finally, Principal Financial Group Inc. grew its holdings in Brookfield Infrastructure Partners by 5.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock valued at $377,532,000 after buying an additional 437,693 shares during the last quarter. 45.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Brookfield Infrastructure Partners L.P. (NYSE BIP) opened at $43.67 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. Brookfield Infrastructure Partners L.P. has a 52-week low of $34.26 and a 52-week high of $46.88. The company has a market capitalization of $12,073.63, a P/E ratio of 161.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05.
Brookfield Infrastructure Partners announced that its Board of Directors has approved a share buyback program on Tuesday, November 7th that permits the company to repurchase 13,820,000 shares. This repurchase authorization permits the utilities provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, November 30th were given a $0.435 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.98%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 644.44%.
A number of research firms have issued reports on BIP. Scotiabank set a $46.75 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Credit Suisse Group reaffirmed a “hold” rating and issued a $44.00 target price on shares of Brookfield Infrastructure Partners in a report on Wednesday, December 27th. Zacks Investment Research raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Friday, January 5th. TD Securities raised their target price on Brookfield Infrastructure Partners to $57.00 and gave the company a “buy” rating in a report on Monday, September 18th. Finally, National Bank Financial raised their target price on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, November 6th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.88.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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