Neuberger Berman Group LLC cut its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,626,858 shares of the utilities provider’s stock after selling 141,010 shares during the quarter. Neuberger Berman Group LLC owned 1.58% of Brookfield Infrastructure Partners worth $190,213,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Ropes Wealth Advisors LLC acquired a new stake in Brookfield Infrastructure Partners during the second quarter worth about $30,000. Altshuler Shaham Ltd purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at $27,000. Sound Income Strategies LLC boosted its stake in shares of Brookfield Infrastructure Partners by 86.5% in the 2nd quarter. Sound Income Strategies LLC now owns 981 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 455 shares in the last quarter. Perennial Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at $45,000. Finally, Leelyn Smith LLC raised its holdings in Brookfield Infrastructure Partners by 15.1% during the 2nd quarter. Leelyn Smith LLC now owns 2,210 shares of the utilities provider’s stock valued at $91,000 after buying an additional 290 shares during the last quarter. 49.84% of the stock is currently owned by institutional investors and hedge funds.
BIP stock traded down $0.42 during trading on Wednesday, hitting $47.44. 7,808 shares of the stock traded hands, compared to its average volume of 238,742. Brookfield Infrastructure Partners L.P. has a 1 year low of $25.77 and a 1 year high of $56.31. The firm’s 50 day moving average is $44.19 and its two-hundred day moving average is $41.71. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of -593.68 and a beta of 0.89.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.91). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $936.95 million. Brookfield Infrastructure Partners had a net margin of 2.25% and a return on equity of 0.93%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. As a group, equities research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Friday, August 28th. Brookfield Infrastructure Partners’s payout ratio is presently 2,771.43%.
Several research analysts have commented on BIP shares. Credit Suisse Group lowered shares of Brookfield Infrastructure Partners from a “neutral” rating to an “underperform” rating and set a $40.00 price objective for the company. in a report on Wednesday, July 29th. Raymond James set a $50.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Citigroup upped their target price on shares of Brookfield Infrastructure Partners from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. BMO Capital Markets upped their target price on shares of Brookfield Infrastructure Partners from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Barclays reaffirmed a “hold” rating and issued a $62.00 target price on shares of Brookfield Infrastructure Partners in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.09.
Brookfield Infrastructure Partners Profile
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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