TD Waterhouse Canada Inc. Makes New Investment in Brookfield Infrastructure Partners LP $BIP

TD Waterhouse Canada Inc. purchased a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,155,076 shares of the utilities provider’s stock, valued at approximately $76,976,000.

Other institutional investors have also recently bought and sold shares of the company. Ninepoint Partners LP bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth $2,452,000. The Manufacturers Life Insurance Company increased its stake in shares of Brookfield Infrastructure Partners by 55.0% in the first quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after buying an additional 979,842 shares in the last quarter. Purpose Unlimited Inc. bought a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at about $11,823,000. Oak Grove Capital LLC bought a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at about $2,936,000. Finally, Bank of Nova Scotia raised its holdings in shares of Brookfield Infrastructure Partners by 28.0% in the first quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock valued at $101,409,000 after buying an additional 614,531 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Up 0.5%

Shares of NYSE BIP traded up $0.18 during midday trading on Friday, hitting $37.45. The stock had a trading volume of 807,350 shares, compared to its average volume of 791,775. The company’s 50-day simple moving average is $37.13 and its 200 day simple moving average is $37.64. The firm has a market cap of $17.14 billion, a P/E ratio of 60.41 and a beta of 1.06. Brookfield Infrastructure Partners LP has a fifty-two week low of $33.21 and a fifty-two week high of $44.03. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.89 and a quick ratio of 0.84.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%. The company had revenue of $6.48 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. Research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.4550 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, August 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 293.55%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BIP shares. National Bank Financial upped their price target on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. BMO Capital Markets boosted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a research note on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.11.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership’s portfolio includes businesses in utilities, transport, midstream energy, and data infrastructure, with assets that support the movement of people, goods, energy, and data.

Its utilities operations include electricity transmission and distribution, natural gas distribution, and water and wastewater systems. The transport business encompasses assets such as toll roads, rail, ports, and other transportation infrastructure.