Brookfield Infrastructure Partners LP (BIP) Hits New 12-Month High After Dividend Announcement

Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) reached a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $41.59 and last traded at $41.55, with a volume of 481,352 shares traded. The stock had previously closed at $40.25.

The newly announced dividend which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a $0.435 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.94%. Brookfield Infrastructure Partners’s payout ratio is 370.22%.

BIP has been the subject of a number of recent analyst reports. BidaskClub cut Brookfield Infrastructure Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a research note on Friday, June 9th. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Friday, June 2nd. Credit Suisse Group reiterated a “buy” rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 26th. Finally, TD Securities increased their target price on Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $45.72.

The company has a 50-day moving average of $41.25 and a 200 day moving average of $39.11. The company has a market cap of $11.48 billion, a PE ratio of 97.14 and a beta of 1.11.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.86. The firm had revenue of $934 million for the quarter, compared to analysts’ expectations of $768 million. Brookfield Infrastructure Partners had a return on equity of 2.70% and a net margin of 9.36%. On average, analysts anticipate that Brookfield Infrastructure Partners LP will post $1.24 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Bellwether Investment Group LLC raised its stake in Brookfield Infrastructure Partners by 1.2% in the first quarter. Bellwether Investment Group LLC now owns 2,718 shares of the utilities provider’s stock worth $105,000 after buying an additional 32 shares in the last quarter. Bollard Group LLC raised its stake in shares of Brookfield Infrastructure Partners by 1.0% in the second quarter. Bollard Group LLC now owns 3,681 shares of the utilities provider’s stock valued at $151,000 after buying an additional 38 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of Brookfield Infrastructure Partners by 0.5% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 12,400 shares of the utilities provider’s stock valued at $507,000 after buying an additional 65 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Brookfield Infrastructure Partners by 1.1% in the first quarter. Stratos Wealth Partners LTD. now owns 8,749 shares of the utilities provider’s stock valued at $338,000 after buying an additional 98 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Brookfield Infrastructure Partners by 1.4% in the second quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock valued at $290,000 after buying an additional 100 shares during the period. Institutional investors own 34.02% of the company’s stock.

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About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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