Pathway Financial Advisers LLC Buys 1,016,623 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Pathway Financial Advisers LLC increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1,616.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,079,521 shares of the utilities provider’s stock after acquiring an additional 1,016,623 shares during the quarter. Pathway Financial Advisers LLC owned approximately 0.23% of Brookfield Infrastructure Partners worth $37,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors grew its position in Brookfield Infrastructure Partners by 8.9% during the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after acquiring an additional 3,141,038 shares during the last quarter. Principal Financial Group Inc. grew its position in Brookfield Infrastructure Partners by 7.1% during the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after acquiring an additional 1,540,223 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Brookfield Infrastructure Partners by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after acquiring an additional 257,587 shares during the last quarter. CCLA Investment Management grew its position in Brookfield Infrastructure Partners by 35.0% during the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after acquiring an additional 1,125,964 shares during the last quarter. Finally, Select Equity Group L.P. grew its position in Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after acquiring an additional 960,120 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Finally, Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Brookfield Infrastructure Partners Trading Down 2.1 %

BIP opened at $34.70 on Wednesday. The stock has a market cap of $16.10 billion, a PE ratio of 111.94 and a beta of 1.06. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The business has a 50 day moving average of $33.62 and a 200-day moving average of $30.71. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Friday, August 30th. 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.