Oppenheimer & Co. Inc. bought a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 7,666 shares of the utilities provider’s stock, valued at approximately $306,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIP. K.J. Harrison & Partners Inc grew its holdings in Brookfield Infrastructure Partners by 13.1% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 124,726 shares of the utilities provider’s stock worth $4,976,000 after acquiring an additional 14,493 shares during the last quarter. Davis Rea LTD. grew its holdings in Brookfield Infrastructure Partners by 1.7% in the 3rd quarter. Davis Rea LTD. now owns 176,659 shares of the utilities provider’s stock worth $7,045,000 after acquiring an additional 2,872 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in Brookfield Infrastructure Partners by 3.1% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 74,577 shares of the utilities provider’s stock worth $2,974,000 after acquiring an additional 2,270 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth $1,725,000. Finally, Baskin Financial Services Inc. grew its holdings in Brookfield Infrastructure Partners by 1.7% in the 3rd quarter. Baskin Financial Services Inc. now owns 481,085 shares of the utilities provider’s stock worth $19,192,000 after acquiring an additional 8,183 shares during the last quarter. Institutional investors and hedge funds own 47.42% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Brookfield Infrastructure Partners from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, August 3rd. ValuEngine lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Citigroup set a $43.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “neutral” rating in a report on Monday, August 27th. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Monday, October 1st. Finally, Wells Fargo & Co cut their price target on shares of Brookfield Infrastructure Partners from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, November 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and a consensus price target of $46.27.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Friday, November 2nd. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.82). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $795.00 million. Brookfield Infrastructure Partners had a net margin of 8.22% and a return on equity of 3.54%. On average, sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Thursday, November 29th. Brookfield Infrastructure Partners’s payout ratio is 124.50%.
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About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.
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