Wells Fargo & Company MN decreased its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 343,947 shares of the utilities provider’s stock after selling 1,199 shares during the quarter. Wells Fargo & Company MN owned 0.12% of Brookfield Infrastructure Partners worth $14,769,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Nexus Investment Management Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 0.6% in the 2nd quarter. Nexus Investment Management Inc. now owns 686,999 shares of the utilities provider’s stock valued at $29,445,000 after buying an additional 3,988 shares during the period. Creative Planning lifted its stake in Brookfield Infrastructure Partners by 10.0% in the second quarter. Creative Planning now owns 29,014 shares of the utilities provider’s stock worth $1,246,000 after acquiring an additional 2,649 shares during the last quarter. Bridgecreek Investment Management LLC acquired a new position in Brookfield Infrastructure Partners during the 1st quarter worth approximately $2,710,000. Raymond James Financial Services Advisors Inc. grew its holdings in Brookfield Infrastructure Partners by 1.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 111,825 shares of the utilities provider’s stock worth $4,675,000 after acquiring an additional 1,924 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter valued at approximately $219,000. 46.42% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BIP traded down $0.19 during mid-day trading on Monday, reaching $48.14. The company had a trading volume of 45,174 shares, compared to its average volume of 292,587. The firm has a 50 day simple moving average of $45.08 and a two-hundred day simple moving average of $42.60. The stock has a market cap of $13.53 billion, a P/E ratio of 81.58, a PEG ratio of 1.00 and a beta of 0.85. Brookfield Infrastructure Partners L.P. has a 52-week low of $32.26 and a 52-week high of $48.57.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Brookfield Infrastructure Partners had a net margin of 3.32% and a return on equity of 1.40%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Brookfield Infrastructure Partners’s quarterly revenue was up 61.4% compared to the same quarter last year. Research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.44 earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 340.68%.
A number of brokerages have recently weighed in on BIP. TD Securities raised their price objective on shares of Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Bank of America increased their target price on Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. National Bank Financial restated an “outperform” rating and issued a $50.00 price target on shares of Brookfield Infrastructure Partners in a research note on Thursday, July 18th. Raymond James lifted their price target on Brookfield Infrastructure Partners from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Brookfield Infrastructure Partners has an average rating of “Buy” and a consensus price target of $47.41.
About Brookfield Infrastructure Partners
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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