Ironwood Investment Counsel LLC Makes New $220,000 Investment in Brookfield Infrastructure Partners LP $BIP

Ironwood Investment Counsel LLC purchased a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the second quarter, HoldingsChannel reports. The firm purchased 6,568 shares of the utilities provider’s stock, valued at approximately $220,000.

Other large investors have also recently added to or reduced their stakes in the company. Addenda Capital Inc. raised its stake in shares of Brookfield Infrastructure Partners by 13.5% during the 2nd quarter. Addenda Capital Inc. now owns 704,591 shares of the utilities provider’s stock worth $23,604,000 after buying an additional 83,770 shares in the last quarter. Value Partners Investments Inc. raised its position in Brookfield Infrastructure Partners by 99.5% in the second quarter. Value Partners Investments Inc. now owns 47,294 shares of the utilities provider’s stock worth $1,581,000 after acquiring an additional 23,582 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Brookfield Infrastructure Partners by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 89,377 shares of the utilities provider’s stock worth $2,663,000 after acquiring an additional 13,788 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Brookfield Infrastructure Partners by 248.1% in the second quarter. Farther Finance Advisors LLC now owns 7,807 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 5,564 shares during the period. Finally, BROOKFIELD Corp ON boosted its position in shares of Brookfield Infrastructure Partners by 3.5% during the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock worth $139,611,000 after purchasing an additional 158,881 shares in the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BIP. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. 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. National Bank Financial raised Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Jefferies Financial Group set a $37.00 price objective on Brookfield Infrastructure Partners and gave the company a “hold” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average price target of $40.43.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock opened at $35.75 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The stock has a fifty day moving average of $33.25 and a two-hundred day moving average of $32.47. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 715.14 and a beta of 1.14. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.8%. Brookfield Infrastructure Partners’s payout ratio is 256.72%.

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.