Rockefeller Capital Management L.P. Boosts Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Rockefeller Capital Management L.P. boosted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,417 shares of the utilities provider’s stock after buying an additional 945 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Brookfield Infrastructure Partners were worth $3,411,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of BIP. US Bancorp DE lifted its stake in Brookfield Infrastructure Partners by 18.9% in the 1st quarter. US Bancorp DE now owns 6,304 shares of the utilities provider’s stock valued at $335,000 after buying an additional 1,000 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Brookfield Infrastructure Partners by 15.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,395 shares of the utilities provider’s stock valued at $287,000 after buying an additional 733 shares in the last quarter. Altium Wealth Management LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $338,000. Koshinski Asset Management Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth $209,000. Finally, Bank of Nova Scotia lifted its stake in shares of Brookfield Infrastructure Partners by 26,175.0% during the 1st quarter. Bank of Nova Scotia now owns 2,276,464 shares of the utilities provider’s stock worth $121,499,000 after purchasing an additional 2,267,800 shares during the period. 52.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BIP opened at $55.85 on Friday. Brookfield Infrastructure Partners L.P. has a 12-month low of $42.29 and a 12-month high of $58.58. The company has a market cap of $16.49 billion, a P/E ratio of 41.91 and a beta of 0.77. The stock has a fifty day moving average price of $55.74 and a 200 day moving average price of $54.55.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, August 5th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.22). Brookfield Infrastructure Partners had a net margin of 7.12% and a return on equity of 3.55%. The company had revenue of $2.66 billion during the quarter. As a group, equities analysts predict that Brookfield Infrastructure Partners L.P. will post 3.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 30th. This represents a $2.04 annualized dividend and a dividend yield of 3.65%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 582.86%.

A number of research analysts have weighed in on the company. CIBC assumed coverage on Brookfield Infrastructure Partners in a research note on Tuesday, June 22nd. They set an “outperform” rating on the stock. Raymond James reissued an “outperform” rating and set a $65.00 price target on shares of Brookfield Infrastructure Partners in a research note on Thursday, June 3rd. BMO Capital Markets assumed coverage on Brookfield Infrastructure Partners in a research note on Thursday, September 9th. They set an “outperform” rating and a $63.00 price target on the stock. Citigroup increased their price target on Brookfield Infrastructure Partners from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 31st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 6th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and an average target price of $59.60.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners LP is an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Energy, Data Infrastructure, and Corporate.

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

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