Brookfield Infrastructure Partners LP $BIP Shares Newly Acquired by Brighton Jones LLC

Brighton Jones LLC acquired a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,383 shares of the utilities provider’s stock, valued at approximately $511,000.

Several other hedge funds also recently modified their holdings of the stock. TD Waterhouse Canada Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at about $76,976,000. The Manufacturers Life Insurance Company boosted its position in Brookfield Infrastructure Partners by 55.0% during the first quarter. The Manufacturers Life Insurance Company now owns 2,761,387 shares of the utilities provider’s stock valued at $99,572,000 after purchasing an additional 979,842 shares during the last quarter. Bank of Nova Scotia boosted its position in Brookfield Infrastructure Partners by 28.0% during the first quarter. Bank of Nova Scotia now owns 2,812,022 shares of the utilities provider’s stock valued at $101,409,000 after purchasing an additional 614,531 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Brookfield Infrastructure Partners during the first quarter valued at approximately $15,642,000. Finally, Gold Investment Management Ltd. bought a new position in Brookfield Infrastructure Partners in the third quarter valued at approximately $6,435,000. Institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIP shares. Wall Street Zen lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Citigroup reissued a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a report on Monday, August 3rd. BMO Capital Markets raised their target price on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Brookfield Infrastructure Partners in a research note on Tuesday, November 3rd. Finally, Canadian Imperial Bank of Commerce set a $44.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperformer” rating in a report on Thursday, October 22nd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $39.45 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.84 and a debt-to-equity ratio of 1.77. Brookfield Infrastructure Partners LP has a 12 month low of $33.21 and a 12 month high of $44.03. The stock has a 50 day moving average of $36.88 and a 200-day moving average of $37.66. The company has a market capitalization of $18.16 billion, a P/E ratio of 10.97 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Friday, November 6th. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.94). Brookfield Infrastructure Partners had a net margin of 1.98% and a return on equity of 1.55%. The business had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company posted $0.83 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that Brookfield Infrastructure Partners LP will post 3.63 EPS for the current year.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure businesses. The partnership invests in assets that support the movement and delivery of energy, goods, data and other services. Its operations span utilities, transport, midstream and data infrastructure. These businesses include electricity and natural gas networks, railways, ports and toll roads, natural gas pipelines and storage, and communications infrastructure such as fiber networks and data centers.