Brookfield Infrastructure Partners (NYSE:BIP) Sets New 52-Week High at $34.50

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) hit a new 52-week high during trading on Friday . The company traded as high as $34.50 and last traded at $34.50, with a volume of 197 shares trading hands. The stock had previously closed at $33.53.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Brookfield Infrastructure Partners Stock Up 2.9 %

The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $31.48 and a 200-day simple moving average of $29.69. The firm has a market cap of $16.00 billion, a PE ratio of 108.19 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.70 by ($0.80). The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 522.58%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Level Four Advisory Services LLC grew its stake in shares of Brookfield Infrastructure Partners by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 9,328 shares of the utilities provider’s stock worth $294,000 after acquiring an additional 328 shares during the period. NBC Securities Inc. raised its stake in Brookfield Infrastructure Partners by 1.0% during the 2nd quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock valued at $1,110,000 after buying an additional 381 shares during the last quarter. Sterling Investment Counsel LLC raised its stake in Brookfield Infrastructure Partners by 5.0% during the 1st quarter. Sterling Investment Counsel LLC now owns 9,306 shares of the utilities provider’s stock valued at $290,000 after buying an additional 442 shares during the last quarter. Callahan Advisors LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 2.1% during the 2nd quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after buying an additional 450 shares during the period. Finally, Belpointe Asset Management LLC boosted its stake in shares of Brookfield Infrastructure Partners by 4.7% in the 4th quarter. Belpointe Asset Management LLC now owns 12,011 shares of the utilities provider’s stock worth $378,000 after buying an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Company Profile

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 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.