Tranquility Partners LLC Purchases 52,664 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Tranquility Partners LLC grew its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 360.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,268 shares of the utilities provider’s stock after buying an additional 52,664 shares during the quarter. Brookfield Infrastructure Partners accounts for approximately 0.9% of Tranquility Partners LLC’s holdings, making the stock its 28th largest position. Tranquility Partners LLC’s holdings in Brookfield Infrastructure Partners were worth $2,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Infrastructure Partners by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock valued at $525,947,000 after buying an additional 1,362,482 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 11.7% during the 3rd quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider’s stock valued at $480,326,000 after buying an additional 1,714,740 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Brookfield Infrastructure Partners by 6.3% during the 4th quarter. 1832 Asset Management L.P. now owns 15,750,231 shares of the utilities provider’s stock valued at $488,100,000 after buying an additional 938,006 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 28.2% during the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock valued at $224,468,000 after buying an additional 1,565,246 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider’s stock valued at $420,203,000 after buying an additional 685,194 shares during the period. 57.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BIP has been the topic of a number of recent research reports. TD Securities decreased their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Raymond James raised their target price on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. BMO Capital Markets raised their target price on Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, January 10th. Jefferies Financial Group initiated coverage on Brookfield Infrastructure Partners in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Finally, National Bankshares cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price on the stock. in a report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.11.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP traded up $0.55 on Wednesday, reaching $25.60. 548,708 shares of the company’s stock traded hands, compared to its average volume of 522,696. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.20. The stock has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $28.68. The firm has a market cap of $11.81 billion, a PE ratio of 182.87 and a beta of 0.95. Brookfield Infrastructure Partners L.P. has a 12 month low of $21.03 and a 12 month high of $37.32.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). The business had revenue of $4.97 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. Equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.32 earnings per share for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.405 per share. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 6.33%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 1,157.23%.

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.