M. Kraus & Co increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 50.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 1832 Asset Management L.P. lifted its position in Brookfield Infrastructure Partners by 23.3% during the fourth quarter. 1832 Asset Management L.P. now owns 9,797,627 shares of the utilities provider’s stock valued at $594,607,000 after purchasing an additional 1,851,562 shares during the last quarter. Capital World Investors lifted its position in Brookfield Infrastructure Partners by 8.8% during 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 purchasing an additional 1,584,397 shares during the last quarter. CCLA Investment Management Ltd lifted its position in Brookfield Infrastructure Partners by 888.5% during the first quarter. CCLA Investment Management Ltd now owns 974,847 shares of the utilities provider’s stock valued at $63,685,000 after purchasing an additional 876,227 shares during the last quarter. Mackenzie Financial Corp lifted its position in Brookfield Infrastructure Partners by 55.6% during the fourth quarter. Mackenzie Financial Corp now owns 2,030,320 shares of the utilities provider’s stock valued at $123,578,000 after purchasing an additional 725,690 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Brookfield Infrastructure Partners by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider’s stock valued at $420,203,000 after purchasing an additional 685,194 shares during the last quarter. Institutional investors own 55.37% of the company’s stock.
Wall Street Analysts Forecast Growth
BIP has been the subject of several analyst reports. StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Wells Fargo & Company raised their target price on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 target price for the company in a report on Thursday, June 30th. Finally, TD Securities started coverage on shares of Brookfield Infrastructure Partners in a research note on Friday. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average price target of $46.80.
Brookfield Infrastructure Partners Stock Down 4.1 %
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.53). Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. On average, analysts forecast that Brookfield Infrastructure Partners L.P. will post 2.69 earnings per share for the current fiscal year.
Brookfield Infrastructure Partners Cuts Dividend
The company also recently disclosed 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 of this dividend is Tuesday, August 30th. Brookfield Infrastructure Partners’s 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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