Citigroup Inc. Boosts Position in Brookfield Infrastructure Partners LP $BIP

Citigroup Inc. raised its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 50.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 122,778 shares of the utilities provider’s stock after buying an additional 40,908 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Infrastructure Partners were worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Westfuller Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners during the third quarter worth $44,000. City Holding Co. purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $59,000. Caldwell Trust Co purchased a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at about $66,000. AdvisorNet Financial Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 17.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,160 shares of the utilities provider’s stock valued at $71,000 after buying an additional 325 shares during the period. Finally, Guinness Asset Management LTD purchased a new stake in shares of Brookfield Infrastructure Partners in the third quarter worth about $81,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 1.0%

Shares of NYSE:BIP opened at $38.92 on Thursday. The firm has a market capitalization of $17.95 billion, a price-to-earnings ratio of 43.25 and a beta of 1.10. The business’s 50 day moving average price is $36.49 and its 200-day moving average price is $34.58. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.08 and a quick ratio of 0.81. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $40.32.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 29th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.42). The company had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Brookfield Infrastructure Partners had a net margin of 4.40% and a return on equity of 3.22%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. Brookfield Infrastructure Partners’s payout ratio is presently 202.22%.

Wall Street Analyst Weigh In

BIP has been the subject of several recent research reports. TD Cowen reiterated a “buy” rating on shares of Brookfield Infrastructure Partners in a research report on Friday, January 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a report on Friday, January 30th. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley set a $45.00 price target on shares of Brookfield Infrastructure Partners in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.13.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.