Capital Investment Advisors LLC Takes $207,000 Position in Brookfield Infrastructure Partners L.P. (BIP)
Capital Investment Advisors LLC acquired a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,948 shares of the utilities provider’s stock, valued at approximately $207,000.
Several other hedge funds have also recently made changes to their positions in BIP. Toronto Dominion Bank increased its holdings in shares of Brookfield Infrastructure Partners by 16.3% in the fourth quarter. Toronto Dominion Bank now owns 4,721,316 shares of the utilities provider’s stock valued at $163,267,000 after purchasing an additional 661,628 shares during the period. Bank of Montreal Can increased its holdings in shares of Brookfield Infrastructure Partners by 2.6% in the fourth quarter. Bank of Montreal Can now owns 16,951,223 shares of the utilities provider’s stock valued at $585,326,000 after purchasing an additional 424,158 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at about $12,667,000. CI Investments Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 23.1% in the third quarter. CI Investments Inc. now owns 1,934,150 shares of the utilities provider’s stock valued at $77,134,000 after purchasing an additional 362,400 shares during the period. Finally, Scotia Capital Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 15.2% in the fourth quarter. Scotia Capital Inc. now owns 1,965,751 shares of the utilities provider’s stock valued at $67,648,000 after purchasing an additional 259,003 shares during the period. 38.11% of the stock is currently owned by institutional investors and hedge funds.
BIP has been the topic of a number of research reports. Zacks Investment Research lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Raymond James reaffirmed an “outperform” rating and set a $49.00 target price on shares of Brookfield Infrastructure Partners in a report on Thursday, March 21st. Finally, Credit Suisse Group set a $46.00 target price on Brookfield Infrastructure Partners and gave the stock a “buy” rating in a report on Sunday, December 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.56.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Wednesday, February 6th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $870.84 million. Brookfield Infrastructure Partners had a return on equity of 2.82% and a net margin of 7.46%. Brookfield Infrastructure Partners’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 earnings per share. Research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 28th were issued a dividend of $0.502 per share. This represents a $2.01 annualized dividend and a yield of 4.85%. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, February 27th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 340.68%.
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Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The 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 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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