StrongBox Wealth LLC lowered its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,404 shares of the utilities provider’s stock after selling 10,293 shares during the period. StrongBox Wealth LLC’s holdings in Brookfield Infrastructure Partners were worth $1,593,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Capital Analysts LLC increased its position in shares of Brookfield Infrastructure Partners by 884.1% during the 2nd quarter. Capital Analysts LLC now owns 679 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 610 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Brookfield Infrastructure Partners during the second quarter valued at approximately $40,000. Power Corp of Canada bought a new position in Brookfield Infrastructure Partners in the first quarter worth approximately $73,000. Fairfield Bush & CO. purchased a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth $81,000. Finally, BDO Wealth Advisors LLC grew its position in shares of Brookfield Infrastructure Partners by 50.0% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,698 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 566 shares during the period. Hedge funds and other institutional investors own 57.81% of the company’s stock.
Wall Street Analyst Weigh In
BIP has been the topic of several analyst reports. StockNews.com began coverage on Brookfield Infrastructure Partners in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Raymond James cut their price target on Brookfield Infrastructure Partners from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, January 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average price target of $45.21.
Brookfield Infrastructure Partners Stock Performance
NYSE:BIP opened at $31.79 on Friday. The firm has a market capitalization of $14.57 billion, a PE ratio of 232.62 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.05 and a current ratio of 0.80. The stock has a 50-day simple moving average of $33.93 and a two-hundred day simple moving average of $35.08. Brookfield Infrastructure Partners L.P. has a 52-week low of $30.03 and a 52-week high of $46.01.
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, February 2nd. The utilities provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.74). The business had revenue of $3.71 billion during the quarter. Brookfield Infrastructure Partners had a return on equity of 1.20% and a net margin of 2.09%. Analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.01 EPS for the current year.
Brookfield Infrastructure Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th will be paid a $0.382 dividend. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, February 27th. This represents a $1.53 dividend on an annualized basis and a dividend yield of 4.81%. Brookfield Infrastructure Partners’s dividend payout ratio is 1,119.57%.
Brookfield Infrastructure Partners Profile
Brookfield Infrastructure Partners LP is an infrastructure company, which engages in the management of diversified portfolio of infrastructure assets that will generate sustainable and growing distributions over the long-term for unit holders. It operates through the following segments: Utilities, Transport, Midstream, Data, and Corporate.
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