Brookfield Infrastructure Partners (NYSE:BIP) Hits New 52-Week High at $34.50

Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $34.50 and last traded at $34.50, with a volume of 197 shares trading hands. The stock had previously closed at $33.53.

Analyst Upgrades and Downgrades

BIP has been the topic of a number of research reports. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average price target of $37.56.

Brookfield Infrastructure Partners Trading Up 2.9 %

The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The stock’s 50 day moving average price is $31.48 and its 200-day moving average price is $29.69. The stock has a market capitalization of $16.00 billion, a PE ratio of 108.19 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.91 billion. During the same period in the prior year, the business earned $0.72 earnings per share. Brookfield Infrastructure Partners’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 4.70%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Hedge Funds Weigh In On Brookfield Infrastructure Partners

A number of hedge funds and other institutional investors have recently modified their holdings of BIP. Level Four Advisory Services LLC lifted its stake in Brookfield Infrastructure Partners by 3.6% in the 4th quarter. Level Four Advisory Services LLC now owns 9,328 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 328 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 1.0% in the second quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock worth $1,110,000 after purchasing an additional 381 shares during the last quarter. Sterling Investment Counsel LLC lifted its position in shares of Brookfield Infrastructure Partners by 5.0% in the first quarter. Sterling Investment Counsel LLC now owns 9,306 shares of the utilities provider’s stock worth $290,000 after buying an additional 442 shares in the last quarter. Callahan Advisors LLC boosted its stake in Brookfield Infrastructure Partners by 2.1% during the second quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after buying an additional 450 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in Brookfield Infrastructure Partners by 4.7% during the 4th quarter. Belpointe Asset Management LLC now owns 12,011 shares of the utilities provider’s stock valued at $378,000 after buying an additional 536 shares in the last quarter. Institutional investors own 57.92% of the company’s stock.

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 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.