Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Acquired by Gradient Investments LLC

Gradient Investments LLC lifted its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 50.0% during the second quarter, Holdings Channel.com reports. The firm owned 8,694 shares of the utilities provider’s stock after acquiring an additional 2,898 shares during the period. Gradient Investments LLC’s holdings in Brookfield Infrastructure Partners were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in BIP. Aurora Investment Counsel raised its holdings in shares of Brookfield Infrastructure Partners by 1.0% during the 1st quarter. Aurora Investment Counsel now owns 18,279 shares of the utilities provider’s stock worth $1,211,000 after acquiring an additional 180 shares during the period. National Asset Management Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 5.5% during the 1st quarter. National Asset Management Inc. now owns 3,822 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 200 shares during the period. Beacon Financial Advisory LLC raised its holdings in shares of Brookfield Infrastructure Partners by 0.9% during the 1st quarter. Beacon Financial Advisory LLC now owns 24,007 shares of the utilities provider’s stock worth $1,590,000 after acquiring an additional 207 shares during the period. Lido Advisors LLC raised its holdings in shares of Brookfield Infrastructure Partners by 8.9% during the 1st quarter. Lido Advisors LLC now owns 3,925 shares of the utilities provider’s stock worth $259,000 after acquiring an additional 320 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Brookfield Infrastructure Partners by 0.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 37,628 shares of the utilities provider’s stock worth $2,492,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 55.37% of the company’s stock.

Analyst Ratings Changes

BIP has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 4th. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price objective on the stock in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

Brookfield Infrastructure Partners Trading Up 1.2 %

Shares of BIP opened at $41.05 on Tuesday. The firm has a market cap of $18.80 billion, a P/E ratio of 59.49 and a beta of 0.74. Brookfield Infrastructure Partners L.P. has a 12-month low of $35.81 and a 12-month high of $46.01. The company’s 50-day moving average price is $40.73 and its 200 day moving average price is $40.86.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last released its earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.53). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $2.12 billion. Brookfield Infrastructure Partners had a net margin of 5.20% and a return on equity of 2.75%. The business’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 2.69 earnings per share for the current year.

Brookfield Infrastructure Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 208.70%.

About Brookfield Infrastructure Partners

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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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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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