M. Kraus & Co increased its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 50.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,915 shares of the utilities provider’s stock after acquiring an additional 2,304 shares during the quarter. M. Kraus & Co’s holdings in Brookfield Infrastructure Partners were worth $264,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors lifted its position in Brookfield Infrastructure Partners by 8.8% in the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock valued at $1,196,578,000 after buying an additional 1,584,397 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Brookfield Infrastructure Partners by 1.9% during the first quarter. TD Asset Management Inc. now owns 10,419,025 shares of the utilities provider’s stock worth $690,427,000 after purchasing an additional 198,395 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Brookfield Infrastructure Partners by 1.1% during the first quarter. 1832 Asset Management L.P. now owns 9,907,990 shares of the utilities provider’s stock worth $647,951,000 after purchasing an additional 110,363 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Infrastructure Partners by 2.5% during the first quarter. Principal Financial Group Inc. now owns 9,482,667 shares of the utilities provider’s stock worth $628,037,000 after purchasing an additional 229,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Infrastructure Partners by 3.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,722,352 shares of the utilities provider’s stock worth $469,596,000 after purchasing an additional 254,286 shares in the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently issued reports on BIP shares. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price target on the stock in a research report on Thursday, June 30th. StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. TD Securities started coverage on shares of Brookfield Infrastructure Partners in a research note on Friday. They set a “buy” rating on the stock. Finally, Wells Fargo & Company upped their target price on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.80.
Brookfield Infrastructure Partners Stock Performance
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.53). Brookfield Infrastructure Partners had a net margin of 5.20% and a return on equity of 2.75%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the business posted $0.57 EPS. Brookfield Infrastructure Partners’s revenue was up 38.2% compared to the same quarter last year. Equities analysts predict that Brookfield Infrastructure Partners L.P. will post 2.69 earnings per share for the current year.
Brookfield Infrastructure Partners Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Tuesday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 208.70%.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, midstream, and data businesses in North and South America, Europe, and the Asia Pacific. The company's Utilities segment operates approximately 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.
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