QRG Capital Management Inc. Invests $205,000 in Brookfield Infrastructure Partners LP $BIP

QRG Capital Management Inc. purchased a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,109 shares of the utilities provider’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIP. GAMMA Investing LLC increased its holdings in shares of Brookfield Infrastructure Partners by 947.1% during the 1st quarter. GAMMA Investing LLC now owns 9,026 shares of the utilities provider’s stock worth $269,000 after buying an additional 8,164 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Brookfield Infrastructure Partners by 565.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 1,906 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $320,000. Wealth Enhancement Advisory Services LLC increased its holdings in Brookfield Infrastructure Partners by 28.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,102 shares of the utilities provider’s stock valued at $629,000 after purchasing an additional 4,667 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $487,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $34.35 on Monday. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50. The stock has a market cap of $15.92 billion, a PE ratio of 687.14 and a beta of 1.16. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a fifty day moving average price of $31.45 and a 200 day moving average price of $31.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. Brookfield Infrastructure Partners’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $0.43 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.0%. Brookfield Infrastructure Partners’s payout ratio is currently 3,440.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Wednesday, August 27th. Jefferies Financial Group assumed coverage on shares of Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a “buy” rating and a $35.00 target price for the company. Wall Street Zen downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. Finally, National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average price target of $40.14.

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.