Visionary Wealth Advisors Sells 1,875 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Visionary Wealth Advisors reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,371 shares of the utilities provider’s stock after selling 1,875 shares during the quarter. Visionary Wealth Advisors’ holdings in Brookfield Infrastructure Partners were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIP. Principal Financial Group Inc. increased its holdings in Brookfield Infrastructure Partners by 12.0% in the 4th quarter. Principal Financial Group Inc. now owns 26,675,618 shares of the utilities provider’s stock valued at $848,018,000 after acquiring an additional 2,866,195 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter worth about $22,033,000. Guardian Capital LP bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter worth about $21,099,000. Intact Investment Management Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 52.1% in the 4th quarter. Intact Investment Management Inc. now owns 1,745,974 shares of the utilities provider’s stock worth $55,477,000 after buying an additional 598,290 shares during the last quarter. Finally, Mufg Securities Canada LTD. increased its holdings in shares of Brookfield Infrastructure Partners by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 704,968 shares of the utilities provider’s stock worth $22,388,000 after buying an additional 295,232 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BIP shares. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Scotiabank boosted their target price on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. TD Securities boosted their target price on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James lifted their price target on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $41.67.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP opened at $32.28 on Thursday. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 807.20 and a beta of 1.07. Brookfield Infrastructure Partners L.P. has a 12 month low of $25.72 and a 12 month high of $36.50. The firm’s 50-day moving average is $29.81 and its 200 day moving average is $31.67. The company has a current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72.

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

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.72 annualized dividend and a yield of 5.33%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is -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.