Gradient Investments LLC lifted its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 321.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,796 shares of the utilities provider’s stock after purchasing an additional 4,420 shares during the quarter. Gradient Investments LLC’s holdings in Brookfield Infrastructure Partners were worth $384,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Prospera Financial Services Inc acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at about $25,000. Nauset Wealth Management. LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at about $28,000. DB Wealth Management Group LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at about $28,000. IFS Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at about $27,000. Finally, Huntington National Bank acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at about $34,000. 55.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Wells Fargo & Company increased their target price on Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Finally, Credit Suisse Group upgraded Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 target price for the company in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus target price of $46.80.
Brookfield Infrastructure Partners Price Performance
Shares of BIP opened at $41.19 on Friday. Brookfield Infrastructure Partners L.P. has a 1 year low of $35.81 and a 1 year high of $46.01. The company has a market capitalization of $18.86 billion, a price-to-earnings ratio of 59.70 and a beta of 0.74. The business has a 50-day moving average of $40.62 and a 200-day moving average of $40.84.
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.53). Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the business earned $0.57 earnings per share. Brookfield Infrastructure Partners’s revenue was up 38.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 2.69 EPS for the current year.
Brookfield Infrastructure Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.50%. Brookfield Infrastructure Partners’s payout ratio is currently 208.70%.
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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.
Further Reading
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