Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1,972.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,549 shares of the utilities provider’s stock after buying an additional 230,846 shares during the period. Russell Investments Group Ltd.’s holdings in Brookfield Infrastructure Partners were worth $12,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hudock Inc. raised its position in shares of Brookfield Infrastructure Partners by 4.1% in the first quarter. Hudock Inc. now owns 6,184 shares of the utilities provider’s stock valued at $329,000 after buying an additional 244 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Brookfield Infrastructure Partners by 0.9% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 28,382 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 250 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Brookfield Infrastructure Partners by 60.3% in the first quarter. Global Retirement Partners LLC now owns 718 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 270 shares during the period. Truist Financial Corp grew its holdings in shares of Brookfield Infrastructure Partners by 5.6% in the fourth quarter. Truist Financial Corp now owns 5,220 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 278 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Brookfield Infrastructure Partners by 3.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 9,340 shares of the utilities provider’s stock valued at $497,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 52.53% of the company’s stock.

Shares of BIP stock opened at $55.02 on Friday. The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 105.81 and a beta of 0.77. The stock’s 50-day moving average is $54.19. Brookfield Infrastructure Partners L.P. has a 1-year low of $38.73 and a 1-year high of $56.27.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its earnings results on Thursday, May 6th. The utilities provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.60). Brookfield Infrastructure Partners had a return on equity of 2.37% and a net margin of 4.96%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.77 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Monday, May 31st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, May 27th. Brookfield Infrastructure Partners’s payout ratio is 277.14%.

BIP has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Monday, May 3rd. Raymond James reissued an “outperform” rating and issued a $65.00 price objective on shares of Brookfield Infrastructure Partners in a report on Thursday, June 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Brookfield Infrastructure Partners has an average rating of “Buy” and a consensus price target of $56.90.

Brookfield Infrastructure Partners 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 Utilities segment operates approximately 4,200 kilometers (km) of natural gas pipelines; 2,000 km of electricity transmission lines; and 6.9 million electricity and natural gas connections, as well as 1.5 million installed smart meters; and 330,000 long-term contracted sub-metering services.

Featured Article: Trading Strategy Methods for Individual Investors

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN).

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

Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.