Hudock Inc. Takes Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Hudock Inc. purchased a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 3rd quarter, HoldingsChannel reports. The firm purchased 5,900 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors raised its position in Brookfield Infrastructure Partners by 8.9% in the first quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after purchasing an additional 3,141,038 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure Partners by 7.1% in the second quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock valued at $636,417,000 after acquiring an additional 1,540,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after purchasing an additional 257,587 shares during the last quarter. CCLA Investment Management boosted its stake in shares of Brookfield Infrastructure Partners by 35.0% in the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock valued at $119,180,000 after purchasing an additional 1,125,964 shares during the last quarter. Finally, Select Equity Group L.P. raised its position in shares of Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after acquiring an additional 960,120 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

BIP traded up $0.28 during trading hours on Friday, reaching $35.63. The company’s stock had a trading volume of 20,774 shares, compared to its average volume of 434,189. The company’s 50-day moving average is $33.47 and its 200-day moving average is $30.58. The firm has a market cap of $16.53 billion, a PE ratio of 114.03 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.405 per share. The ex-dividend date was Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 4.55%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Analysts Set New Price Targets

A number of research firms recently commented on BIP. Jefferies Financial Group upped their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.29.

About Brookfield Infrastructure Partners

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 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 8.1 million electricity and natural gas connections; and 0.6 million long-term contracted sub-metering services.