Stratos Wealth Partners LTD. reduced its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,489 shares of the utilities provider’s stock after selling 260 shares during the period. Stratos Wealth Partners LTD.’s holdings in Brookfield Infrastructure Partners were worth $347,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of BIP. Bellwether Investment Group LLC raised its stake in Brookfield Infrastructure Partners by 1.2% in the first quarter. Bellwether Investment Group LLC now owns 2,718 shares of the utilities provider’s stock valued at $105,000 after buying an additional 32 shares during the period. US Bancorp DE raised its stake in Brookfield Infrastructure Partners by 113.5% in the first quarter. US Bancorp DE now owns 3,122 shares of the utilities provider’s stock valued at $121,000 after buying an additional 1,660 shares during the period. Bollard Group LLC raised its stake in Brookfield Infrastructure Partners by 1.1% in the first quarter. Bollard Group LLC now owns 3,643 shares of the utilities provider’s stock valued at $141,000 after buying an additional 40 shares during the period. Hudock Capital Group LLC raised its stake in Brookfield Infrastructure Partners by 15.5% in the first quarter. Hudock Capital Group LLC now owns 3,727 shares of the utilities provider’s stock valued at $144,000 after buying an additional 500 shares during the period. Finally, Cypress Asset Management Inc. TX acquired a new stake in Brookfield Infrastructure Partners during the first quarter valued at about $220,000. 34.02% of the stock is currently owned by institutional investors.
Brookfield Infrastructure Partners LP (NYSE BIP) traded up 0.39% during midday trading on Friday, reaching $44.20. 190,456 shares of the company were exchanged. Brookfield Infrastructure Partners LP has a 52 week low of $30.76 and a 52 week high of $44.74. The company has a 50-day moving average of $41.25 and a 200 day moving average of $39.11. The firm has a market capitalization of $11.48 billion, a PE ratio of 97.14 and a beta of 1.11.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.80 by $0.86. The firm had revenue of $934 million during the quarter, compared to the consensus estimate of $768 million. Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. Equities analysts predict that Brookfield Infrastructure Partners LP will post $1.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.435 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.74 dividend on an annualized basis and a yield of 3.94%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 370.22%.
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Several analysts have recently issued reports on BIP shares. BidaskClub lowered shares of Brookfield Infrastructure Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a research report on Friday, June 9th. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Friday, June 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, July 26th. Finally, TD Securities boosted their price target on shares of Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.72.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).
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