Formidable Asset Management LLC Sells 716 Shares of Brookfield Infrastructure Partners LP $BIP

Formidable Asset Management LLC decreased its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,534 shares of the utilities provider’s stock after selling 716 shares during the period. Formidable Asset Management LLC’s holdings in Brookfield Infrastructure Partners were worth $420,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. North Capital Inc. purchased a new position in Brookfield Infrastructure Partners during the 1st quarter valued at about $35,000. SouthState Corp purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $37,000. Parallel Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $45,000. Farther Finance Advisors LLC raised its holdings in shares of Brookfield Infrastructure Partners by 565.6% during the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 1,906 shares during the last quarter. Finally, Pandora Wealth Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $80,000. Institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BIP shares. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Wednesday, August 27th. Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a report on Friday, August 29th. They set a “buy” rating and a $35.00 target price for the company. National Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Friday. Finally, Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $40.14.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $33.08 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The firm has a fifty day moving average price of $31.02 and a 200 day moving average price of $31.14. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The firm has a market cap of $15.33 billion, a price-to-earnings ratio of 661.81 and a beta of 1.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.Brookfield Infrastructure Partners’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, sell-side analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.2%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 3,440.00%.

Brookfield Infrastructure Partners Company Profile

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.