Coronation Fund Managers Ltd. Acquires 51,378 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Coronation Fund Managers Ltd. increased its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 52.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,416 shares of the utilities provider’s stock after purchasing an additional 51,378 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Brookfield Infrastructure Partners were worth $4,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BIP. Bank & Trust Co bought a new stake in Brookfield Infrastructure Partners during the 2nd quarter valued at approximately $31,000. Clear Point Advisors Inc. bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at approximately $33,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter worth approximately $39,000. Park Place Capital Corp bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $41,000. Finally, Asset Dedication LLC bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth approximately $46,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Down 1.3 %

BIP opened at $34.57 on Wednesday. The firm has a 50-day simple moving average of $31.98 and a two-hundred day simple moving average of $29.94. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $35.48. The company has a market capitalization of $16.04 billion, a PE ratio of 111.52 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58.

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

Brookfield Infrastructure Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 522.58%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price target on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday. Finally, StockNews.com upgraded 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 issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.50.

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.