Intact Investment Management Inc. Purchases New Shares in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Intact Investment Management Inc. purchased a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,147,684 shares of the utilities provider’s stock, valued at approximately $40,286,000. Brookfield Infrastructure Partners comprises approximately 1.3% of Intact Investment Management Inc.’s holdings, making the stock its 19th biggest position. Intact Investment Management Inc. owned about 0.25% of Brookfield Infrastructure Partners as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BIP. Forge First Asset Management Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 92.5% in the 1st quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider’s stock worth $6,286,000 after acquiring an additional 96,890 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Brookfield Infrastructure Partners by 46.4% in the first quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider’s stock worth $3,029,000 after purchasing an additional 30,737 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Brookfield Infrastructure Partners by 137.8% during the third quarter. Sequoia Financial Advisors LLC now owns 564,621 shares of the utilities provider’s stock valued at $19,784,000 after buying an additional 327,143 shares during the period. Inspire Investing LLC bought a new position in shares of Brookfield Infrastructure Partners during the third quarter valued at approximately $894,000. Finally, Value Partners Investments Inc. purchased a new stake in shares of Brookfield Infrastructure Partners in the third quarter worth approximately $596,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIP has been the topic of several research analyst reports. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and a consensus price target of $39.40.

Brookfield Infrastructure Partners Stock Performance

BIP stock opened at $34.11 on Monday. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50. The business has a 50-day moving average price of $33.81 and a 200 day moving average price of $30.97. The company has a market capitalization of $15.82 billion, a P/E ratio of -200.64 and a beta of 1.06. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

About Brookfield Infrastructure Partners

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.