Wealth Enhancement Advisory Services LLC Sells 675 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,435 shares of the utilities provider’s stock after selling 675 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brookfield Infrastructure Partners were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Brookfield Infrastructure Partners by 53.8% in the 4th quarter. Allworth Financial LP now owns 6,861 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 2,399 shares during the period. Northern Trust Corp raised its holdings in Brookfield Infrastructure Partners by 15.0% in the 4th quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider’s stock worth $11,900,000 after purchasing an additional 48,787 shares during the period. Summit Trail Advisors LLC bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth $441,000. Geode Capital Management LLC raised its holdings in Brookfield Infrastructure Partners by 39.5% in the 4th quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider’s stock worth $606,000 after purchasing an additional 5,398 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth $5,306,000. 57.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BIP has been the topic of a number of recent research reports. Scotiabank raised their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Citigroup decreased their target price on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $41.67.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP opened at $33.67 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72. The business’s 50-day simple moving average is $30.92 and its two-hundred day simple moving average is $31.54. The stock has a market cap of $15.64 billion, a PE ratio of 841.99 and a beta of 1.09. Brookfield Infrastructure Partners L.P. has a 52 week low of $25.72 and a 52 week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period last year, the firm earned $0.78 earnings per share. As a group, analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.11%. Brookfield Infrastructure Partners’s payout ratio is -8,600.00%.

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.