Allworth Financial LP Acquires 1,992 Shares of Brookfield Infrastructure Partners LP $BIP

Allworth Financial LP grew its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 36.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,503 shares of the utilities provider’s stock after purchasing an additional 1,992 shares during the period. Allworth Financial LP’s holdings in Brookfield Infrastructure Partners were worth $251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addenda Capital Inc. boosted its holdings in Brookfield Infrastructure Partners by 13.5% in the second quarter. Addenda Capital Inc. now owns 704,591 shares of the utilities provider’s stock worth $23,604,000 after purchasing an additional 83,770 shares during the last quarter. Value Partners Investments Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 99.5% in the 2nd quarter. Value Partners Investments Inc. now owns 47,294 shares of the utilities provider’s stock worth $1,581,000 after buying an additional 23,582 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Brookfield Infrastructure Partners by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 89,377 shares of the utilities provider’s stock valued at $2,663,000 after acquiring an additional 13,788 shares during the period. Farther Finance Advisors LLC boosted its position in Brookfield Infrastructure Partners by 248.1% in the second quarter. Farther Finance Advisors LLC now owns 7,807 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 5,564 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its stake in shares of Brookfield Infrastructure Partners by 3.5% during the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock valued at $139,611,000 after purchasing an additional 158,881 shares during the period. 57.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

BIP has been the topic of several recent research reports. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. National Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Weiss Ratings upgraded Brookfield Infrastructure Partners from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Finally, Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus price target of $40.43.

Brookfield Infrastructure Partners Stock Down 0.3%

Shares of BIP opened at $35.29 on Tuesday. The business’s 50 day moving average is $33.54 and its 200 day moving average is $32.61. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.10. The company has a market capitalization of $16.35 billion, a PE ratio of 705.86 and a beta of 1.14.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. Research analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s payout ratio is 256.72%.

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 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.