Hudock Inc. Invests $207,000 in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Hudock Inc. purchased a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,900 shares of the utilities provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also modified their holdings of BIP. Cedar Mountain Advisors LLC bought a new position in Brookfield Infrastructure Partners in the third quarter worth about $26,000. Bank & Trust Co acquired a new position in Brookfield Infrastructure Partners during the 2nd quarter valued at approximately $31,000. Clear Point Advisors Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth $33,000. Park Place Capital Corp acquired a new stake in Brookfield Infrastructure Partners in the second quarter worth $41,000. Finally, Asset Dedication LLC bought a new stake in Brookfield Infrastructure Partners in the second quarter valued at $46,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP traded up $0.28 on Friday, reaching $35.63. 20,774 shares of the company traded hands, compared to its average volume of 434,189. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a market capitalization of $16.53 billion, a PE ratio of 114.03 and a beta of 1.06. The company’s 50 day moving average is $33.47 and its 200-day moving average is $30.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Brookfield Infrastructure Partners’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Analysts Set New Price Targets

A number of analysts recently weighed in on BIP shares. Jefferies Financial Group increased their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.29.

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.