Beach Investment Counsel Inc. PA Sells 3,975 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Beach Investment Counsel Inc. PA lowered its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,623 shares of the utilities provider’s stock after selling 3,975 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Brookfield Infrastructure Partners were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Brookfield Infrastructure Partners by 48.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,365 shares of the utilities provider’s stock worth $711,000 after buying an additional 7,318 shares during the last quarter. Cidel Asset Management Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter valued at about $272,000. Kingsview Wealth Management LLC grew its stake in shares of Brookfield Infrastructure Partners by 11.0% in 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. Wingate Wealth Advisors Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $32,000. Finally, Summit Trail Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $441,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Up 0.4%

Shares of BIP stock opened at $33.51 on Friday. 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 L.P. has a 12 month low of $25.72 and a 12 month high of $36.50. The stock has a market cap of $15.56 billion, a P/E ratio of 837.98 and a beta of 1.09. The company has a 50 day simple moving average of $30.66 and a two-hundred day simple moving average of $31.54.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the business posted $0.78 EPS. On average, research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share 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. Shareholders of record on Friday, May 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners’s payout ratio is -8,600.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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. Scotiabank raised their price target on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Citigroup cut their price objective on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. 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 presently has an average rating of “Buy” and a consensus price target of $41.67.

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.