JPMorgan Chase & Co. Has $688,000 Position in Brookfield Infrastructure Partners L.P. (BIP)

JPMorgan Chase & Co. increased its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 52.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,015 shares of the utilities provider’s stock after buying an additional 5,500 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Infrastructure Partners were worth $688,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BIP. Capital World Investors lifted its position in shares of Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after buying an additional 1,932,672 shares during the period. Janus Henderson Group PLC bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter worth approximately $51,505,000. TD Asset Management Inc. lifted its position in shares of Brookfield Infrastructure Partners by 13.6% during the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock worth $425,408,000 after buying an additional 1,183,668 shares during the period. Ninepoint Partners LP bought a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $21,370,000. Finally, Principal Financial Group Inc. lifted its position in shares of Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock worth $377,532,000 after buying an additional 437,693 shares during the period. Institutional investors and hedge funds own 45.70% of the company’s stock.

BIP has been the subject of several research analyst reports. Scotiabank lifted their price objective on Brookfield Infrastructure Partners from $43.50 to $46.75 and gave the company an “outperform” rating in a research report on Monday, November 6th. National Bank Financial lifted their price objective on Brookfield Infrastructure Partners from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Royal Bank of Canada lifted their price objective on Brookfield Infrastructure Partners from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. Credit Suisse Group reiterated a “hold” rating and issued a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. Finally, Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $48.88.

Brookfield Infrastructure Partners L.P. (NYSE BIP) opened at $43.67 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23. Brookfield Infrastructure Partners L.P. has a 52-week low of $34.26 and a 52-week high of $46.88. The stock has a market capitalization of $12,073.63, a price-to-earnings ratio of 161.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 3rd. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.86). Brookfield Infrastructure Partners had a net margin of 5.33% and a return on equity of 1.59%. equities research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Thursday, November 30th were paid a $0.435 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 3.98%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 644.44%.

Brookfield Infrastructure Partners announced that its board has approved a stock buyback plan on Tuesday, November 7th that permits the company to repurchase 13,820,000 shares. This repurchase authorization permits the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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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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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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