Steward Partners Investment Advisory LLC Invests $219,000 in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Steward Partners Investment Advisory LLC acquired a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,140 shares of the utilities provider’s stock, valued at approximately $219,000.

A number of other large investors have also added to or reduced their stakes in BIP. CIBC World Markets Inc. raised its position in Brookfield Infrastructure Partners by 89.3% in the first quarter. CIBC World Markets Inc. now owns 3,943,658 shares of the utilities provider’s stock worth $165,121,000 after acquiring an additional 1,860,702 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Brookfield Infrastructure Partners by 57.6% in the 1st quarter. CIBC Asset Management Inc now owns 2,631,973 shares of the utilities provider’s stock worth $109,918,000 after buying an additional 962,098 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Brookfield Infrastructure Partners by 17.2% in the 1st quarter. Toronto Dominion Bank now owns 5,535,550 shares of the utilities provider’s stock worth $231,162,000 after buying an additional 814,234 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Infrastructure Partners by 9.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,603,499 shares of the utilities provider’s stock worth $192,749,000 after buying an additional 413,425 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter worth $16,207,000. Hedge funds and other institutional investors own 48.23% of the company’s stock.

Shares of Brookfield Infrastructure Partners stock opened at $44.60 on Wednesday. The stock’s fifty day moving average is $43.79. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 75.59, a PEG ratio of 0.93 and a beta of 0.90. Brookfield Infrastructure Partners L.P. has a 12-month low of $32.26 and a 12-month high of $44.81.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Friday, August 2nd. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Brookfield Infrastructure Partners had a return on equity of 1.40% and a net margin of 3.32%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. Brookfield Infrastructure Partners’s revenue for the quarter was up 61.4% compared to the same quarter last year. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.44 EPS for the current year.

The firm also recently declared a dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.502 per share. The ex-dividend date is Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 340.68%.

A number of equities research analysts have recently issued reports on the company. Industrial Alliance Securities boosted their target price on Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. National Bank Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Brookfield Infrastructure Partners in a research report on Thursday, July 18th. Royal Bank of Canada boosted their target price on Brookfield Infrastructure Partners from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Barclays reaffirmed a “hold” rating on shares of Brookfield Infrastructure Partners in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $47.41.

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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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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