EP Wealth Advisors LLC Purchases 2,537 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

EP Wealth Advisors LLC grew its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 14.0% during the fourth quarter, Holdings Channel reports. The firm owned 20,612 shares of the utilities provider’s stock after purchasing an additional 2,537 shares during the period. EP Wealth Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $655,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Triasima Portfolio Management inc. boosted its position in shares of Brookfield Infrastructure Partners by 1.1% during the fourth quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider’s stock valued at $1,059,000 after buying an additional 350 shares during the last quarter. MGO One Seven LLC lifted its holdings in Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 372 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Brookfield Infrastructure Partners by 8.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 602 shares during the period. Belpointe Asset Management LLC lifted its holdings in Brookfield Infrastructure Partners by 6.1% during the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider’s stock worth $361,000 after acquiring an additional 647 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in Brookfield Infrastructure Partners by 11.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 707 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup dropped their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Raymond James lifted their price target on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. Finally, TD Securities lifted their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $41.67.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $31.91 on Monday. The firm has a market cap of $14.81 billion, a PE ratio of 797.95 and a beta of 1.07. The stock’s fifty day moving average price is $29.18 and its two-hundred day moving average price is $31.75. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72. Brookfield Infrastructure Partners L.P. has a 1 year low of $25.72 and a 1 year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -8,600.00%.

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.