Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Bought by Herold Advisors Inc.

Herold Advisors Inc. grew its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 50.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,155 shares of the utilities provider’s stock after acquiring an additional 40,078 shares during the period. Brookfield Infrastructure Partners comprises about 2.0% of Herold Advisors Inc.’s holdings, making the stock its 6th biggest position. Herold Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $4,592,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Prospera Financial Services Inc purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $25,000. IFS Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter worth approximately $27,000. Nauset Wealth Management. LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $28,000. DB Wealth Management Group LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth approximately $28,000. Finally, Sound Income Strategies LLC grew its stake in Brookfield Infrastructure Partners by 50.0% in the 2nd quarter. Sound Income Strategies LLC now owns 858 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 286 shares during the period. 55.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on BIP shares. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. TD Securities began coverage on shares of Brookfield Infrastructure Partners in a research note on Friday. They set a “buy” rating for the company. Wells Fargo & Company boosted their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price objective for the company in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.80.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP traded down $1.27 during midday trading on Friday, hitting $39.61. 755,194 shares of the company’s stock traded hands, compared to its average volume of 365,305. Brookfield Infrastructure Partners L.P. has a twelve month low of $36.00 and a twelve month high of $46.01. The company has a market cap of $18.14 billion, a PE ratio of 58.00 and a beta of 0.74. The firm’s fifty day moving average price is $40.90 and its two-hundred day moving average price is $40.89.

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

Brookfield Infrastructure Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.44 dividend on an annualized basis and a yield of 3.64%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 208.70%.

Brookfield Infrastructure Partners Profile

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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.

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

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