Oak Grove Capital LLC Purchases New Position in Brookfield Infrastructure Partners LP $BIP

Oak Grove Capital LLC purchased a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 82,600 shares of the utilities provider’s stock, valued at approximately $2,936,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Trail Advisors LLC grew its holdings in Brookfield Infrastructure Partners by 5.0% in the 1st quarter. Clear Trail Advisors LLC now owns 7,344 shares of the utilities provider’s stock worth $265,000 after buying an additional 350 shares in the last quarter. QRG Capital Management Inc. boosted its position in Brookfield Infrastructure Partners by 5.2% during the 2nd quarter. QRG Capital Management Inc. now owns 8,721 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 433 shares during the period. Janney Montgomery Scott LLC boosted its position in Brookfield Infrastructure Partners by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,194 shares of the utilities provider’s stock worth $838,000 after acquiring an additional 529 shares during the period. Allied Private Wealth LLC bought a new position in shares of Brookfield Infrastructure Partners in the second quarter worth $37,000. Finally, Bank & Trust Co bought a new position in shares of Brookfield Infrastructure Partners in the third quarter worth $40,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BIP shares. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Citigroup reiterated a “neutral” rating and issued a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a research report on Monday, August 3rd. Weiss Ratings raised shares of Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Brookfield Infrastructure Partners in a research note on Wednesday, August 12th. Finally, National Bank Financial increased their price objective on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Brookfield Infrastructure Partners Trading Up 0.6%

Shares of Brookfield Infrastructure Partners stock opened at $37.12 on Friday. The business has a fifty day simple moving average of $37.40 and a 200-day simple moving average of $37.59. Brookfield Infrastructure Partners LP has a fifty-two week low of $33.21 and a fifty-two week high of $44.03. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of 59.87 and a beta of 1.06. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83.

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 (EPS) 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 firm had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Brookfield Infrastructure Partners’s revenue was up 19.4% compared to the same quarter last year. On average, equities analysts forecast that Brookfield Infrastructure Partners LP will post 3.66 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

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

About Brookfield Infrastructure Partners

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.