Brookfield Infrastructure Partners L.P. (NYSE:BIP) Short Interest Update

by · The Cerbat Gem

Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Free Report) (TSE:BIP.UN) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,780,000 shares, an increase of 6.0% from the September 15th total of 1,680,000 shares. Based on an average daily trading volume, of 367,500 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analyst Weigh In

BIP has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com raised 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 note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Check Out Our Latest Stock Report on Brookfield Infrastructure Partners

Brookfield Infrastructure Partners Stock Up 1.8 %

NYSE BIP traded up $0.65 during trading on Thursday, hitting $36.42. 355,898 shares of the company traded hands, compared to its average volume of 439,204. The company has a market capitalization of $16.89 billion, a P/E ratio of 117.48 and a beta of 1.06. The business has a fifty day simple moving average of $32.80 and a 200 day simple moving average of $30.31. Brookfield Infrastructure Partners has a 12 month low of $21.03 and a 12 month high of $36.49. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last posted its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80). Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts predict that Brookfield Infrastructure Partners will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Institutional Inflows and Outflows

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

Brookfield Infrastructure Partners Company Profile

(Get Free Report)

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.

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