Wealthcare Advisory Partners LLC cut its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 3.1% in the first quarter, HoldingsChannel reports. The fund owned 25,118 shares of the utilities provider’s stock after selling 807 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Brookfield Infrastructure Partners were worth $748,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of BIP. MGO One Seven LLC grew its holdings in Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 372 shares during the period. Avantax Advisory Services Inc. grew its holdings in Brookfield Infrastructure Partners by 8.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 602 shares during the period. Belpointe Asset Management LLC grew its holdings in Brookfield Infrastructure Partners by 6.1% during the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 647 shares during the period. Kingsview Wealth Management LLC grew its holdings in Brookfield Infrastructure Partners by 11.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 707 shares during the period. Finally, Promus Capital LLC acquired a new position in Brookfield Infrastructure Partners during the fourth quarter valued at approximately $26,000. 57.92% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
BIP has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Citigroup decreased their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Scotiabank boosted their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $41.67.
Brookfield Infrastructure Partners Stock Up 0.5%
Brookfield Infrastructure Partners stock opened at $33.81 on Friday. The stock has a market capitalization of $15.70 billion, a PE ratio of 845.46 and a beta of 1.09. Brookfield Infrastructure Partners L.P. has a twelve month low of $25.72 and a twelve month high of $36.50. 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 company has a 50 day moving average of $31.05 and a 200-day moving average of $31.53.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $2 billion. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.
Brookfield Infrastructure Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -8,600.00%.
Brookfield Infrastructure Partners Company Profile
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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