Kingsview Wealth Management LLC bought a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,499 shares of the utilities provider’s stock, valued at approximately $205,000.
A number of other hedge funds also recently bought and sold shares of the stock. Guardian Capital Advisors LP lifted its holdings in Brookfield Infrastructure Partners by 5.8% during the fourth quarter. Guardian Capital Advisors LP now owns 129,205 shares of the utilities provider’s stock worth $4,028,000 after buying an additional 7,055 shares during the period. CCLA Investment Management lifted its holdings in shares of Brookfield Infrastructure Partners by 19.4% during the 4th quarter. CCLA Investment Management now owns 2,477,350 shares of the utilities provider’s stock valued at $78,022,000 after purchasing an additional 402,290 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 17.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,233 shares of the utilities provider’s stock valued at $480,000 after purchasing an additional 2,296 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 22.1% during the 4th quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock valued at $628,265,000 after purchasing an additional 3,613,608 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 23.0% during the 4th quarter. NBC Securities Inc. now owns 40,503 shares of the utilities provider’s stock valued at $1,275,000 after purchasing an additional 7,587 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.
Brookfield Infrastructure Partners Stock Down 1.7 %
NYSE:BIP opened at $29.44 on Friday. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $37.32. The stock has a market capitalization of $13.58 billion, a PE ratio of 94.97 and a beta of 0.99. The stock’s 50-day moving average price is $28.87 and its 200-day moving average price is $29.31.
Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.68). Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. The firm had revenue of $5.19 billion for the quarter. Sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.23 earnings per share for the current fiscal year.
Brookfield Infrastructure Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.62 annualized dividend and a yield of 5.50%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 522.58%.
Analyst Upgrades and Downgrades
BIP has been the subject of several analyst reports. TD Securities decreased their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a report on Friday, February 2nd. BMO Capital Markets decreased their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. National Bankshares lowered Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price for the company. in a research note on Tuesday, January 30th. Raymond James raised their target price on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 2nd. Finally, StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average price target of $38.20.
View Our Latest Stock Report on BIP
Brookfield Infrastructure Partners Company Profile
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.
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