Crestwood Advisors Group LLC boosted its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,250 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Crestwood Advisors Group LLC’s holdings in Brookfield Infrastructure Partners were worth $493,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Brookfield Infrastructure Partners by 26.7% in the first quarter. Bank of Montreal Can now owns 13,975,593 shares of the utilities provider’s stock valued at $540,437,000 after buying an additional 2,947,311 shares in the last quarter. Sentry Investments Corp. raised its stake in shares of Brookfield Infrastructure Partners by 4.2% in the first quarter. Sentry Investments Corp. now owns 4,421,590 shares of the utilities provider’s stock worth $170,983,000 after buying an additional 176,900 shares during the period. Partners Value Investments LP acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $128,693,000. Montrusco Bolton Investments Inc. raised its stake in shares of Brookfield Infrastructure Partners by 46.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 1,812,319 shares of the utilities provider’s stock worth $69,903,000 after buying an additional 574,812 shares during the period. Finally, First Manhattan Co. raised its stake in shares of Brookfield Infrastructure Partners by 1.3% in the second quarter. First Manhattan Co. now owns 1,632,968 shares of the utilities provider’s stock worth $66,804,000 after buying an additional 20,217 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Infrastructure Partners LP (NYSE BIP) traded up 0.14% during mid-day trading on Friday, hitting $42.51. The stock had a trading volume of 295,015 shares. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 93.43 and a beta of 1.11. Brookfield Infrastructure Partners LP has a 12 month low of $30.76 and a 12 month high of $43.48. The stock’s 50-day moving average price is $40.84 and its 200-day moving average price is $38.80.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.86. The business had revenue of $934 million for the quarter, compared to analyst estimates of $768 million. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. On average, analysts predict that Brookfield Infrastructure Partners LP will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.435 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.74 annualized dividend and a yield of 4.09%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 370.22%.
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BIP has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, June 9th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $44.00 in a report on Friday, June 16th. BidaskClub raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating in a report on Friday. Finally, Scotiabank set a $42.50 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $45.72.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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