TCG Advisory Services LLC Purchases Shares of 87,188 Brookfield Infrastructure Partners L.P. (NYSE:BIP)

TCG Advisory Services LLC acquired a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 87,188 shares of the utilities provider’s stock, valued at approximately $2,746,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BIP. Raymond James & Associates grew its position in shares of Brookfield Infrastructure Partners by 9.3% in the third quarter. Raymond James & Associates now owns 538,703 shares of the utilities provider’s stock valued at $15,838,000 after purchasing an additional 45,880 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Brookfield Infrastructure Partners by 20.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 56,487 shares of the utilities provider’s stock worth $1,661,000 after buying an additional 9,592 shares during the period. Independent Advisor Alliance acquired a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $206,000. Mackenzie Financial Corp boosted its position in shares of Brookfield Infrastructure Partners by 12.3% in the third quarter. Mackenzie Financial Corp now owns 5,553,663 shares of the utilities provider’s stock valued at $163,278,000 after acquiring an additional 607,302 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at about $219,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIP has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. BMO Capital Markets reduced their price target on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday. National Bank Financial cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 30th. Jefferies Financial Group reduced their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price target for the company. in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Brookfield Infrastructure Partners Trading Up 3.0 %

NYSE BIP traded up $0.84 during trading on Friday, hitting $29.28. 472,990 shares of the company’s stock were exchanged, compared to its average volume of 541,856. The stock’s 50 day moving average price is $28.56 and its two-hundred day moving average price is $28.68. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $37.32. The company has a market cap of $13.51 billion, a PE ratio of 94.45 and a beta of 0.99.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. The company had revenue of $4.97 billion for the quarter. Analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.29 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s payout ratio is 522.58%.

Brookfield Infrastructure Partners 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.