Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Purchased by Raymond James & Associates

Raymond James & Associates grew its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 6.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 610,607 shares of the utilities provider’s stock after acquiring an additional 36,806 shares during the quarter. Raymond James & Associates owned about 0.13% of Brookfield Infrastructure Partners worth $21,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 22.8% in the first quarter. Park Avenue Securities LLC now owns 10,450 shares of the utilities provider’s stock valued at $326,000 after acquiring an additional 1,939 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter worth approximately $728,000. Synergy Asset Management LLC bought a new position in Brookfield Infrastructure Partners during the 1st quarter valued at $4,919,000. Insight Folios Inc increased its position in shares of Brookfield Infrastructure Partners by 6.0% during the 1st quarter. Insight Folios Inc now owns 16,531 shares of the utilities provider’s stock valued at $516,000 after purchasing an additional 940 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Brookfield Infrastructure Partners by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 37,964 shares of the utilities provider’s stock worth $1,185,000 after buying an additional 830 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $35.70 on Friday. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $36.50. The firm has a 50-day moving average of $33.55 and a two-hundred day moving average of $30.62. The firm has a market capitalization of $16.56 billion, a PE ratio of 115.16 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.405 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.62 annualized dividend and a dividend yield of 4.54%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

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.