Brookfield Infrastructure Partners L.P. Buyback
OLI recorded this information on 11/7/2018
Company:
Brookfield Infrastructure Partners L.P.
Buyback:
BIP buyback
Share Amount Authorized:
13,843,928
Buyback Details:
Brookfield Infrastructure Partners L.P. ("Brookfield Infrastructure") (NYSE:BIP) today announced that the Toronto Stock Exchange (the "TSX") accepted a notice filed by Brookfield Infrastructure of its intention to renew its normal course issuer bid for its outstanding limited partnership units ("LP Units") and its class A preferred limited partnership units ("Preferred Units", together with the LP Units, "Units"). Brookfield Infrastructure believes that in the event that the Units trade in a price range that does not fully reflect their value, the acquisition of Units may represent an attractive use of available funds. Under the normal course issuer bid, the Board of Directors of the general partner of Brookfield Infrastructure authorized Brookfield Infrastructure to repurchase up to 5% of the issued and outstanding LP Units, or 13,843,928 LP Units. At the close of business on October 31, 2018, there were 276,878,576 LP Units issued and outstanding. Under the normal course issuer bid, Brookfield Infrastructure may purchase up to 45,442 LP Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 181,768 LP Units on the TSX for the six months ended October 31, 2018, calculated in accordance with the rules of the TSX.
Brookfield Infrastructure Partners owns a portfolio of infrastructure assets. Co.'s utilities segment is comprised of businesses from which it earns a regulated return, which include regulated transmission, regulated distribution and regulated terminal. Co.'s transport segment is comprised of open access systems that provide transportation, storage and handling services for freight, bulk commodities and passengers. Co.'s energy segment is comprised of systems that provide natural gas midstream and storage services, as well as distributed energy. Co.'s data infrastructure segment is comprised of infrastructure servicing customers in the telecommunications, fiber and data storage sectors.
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Avg. Broker Rec.
 
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Buy (3.40 out of 4) 50th percentile
(ranked higher than approx. 50% of all stocks covered)
Analysts' Target Price: BIP Stock Forecast Based on Zacks ABR data; powered by Xignite |
