Brookfield Infrastructure Partners LP $BIP Stake Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 70.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,544 shares of the utilities provider’s stock after selling 62,833 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $889,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. SouthState Corp acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $37,000. Pandora Wealth Inc. acquired a new position in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $80,000. Harbour Investments Inc. lifted its position in Brookfield Infrastructure Partners by 23.1% in the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after buying an additional 474 shares in the last quarter. State of Wyoming acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at $97,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Infrastructure Partners by 9.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 325 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BIP shares. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Friday, September 26th. Jefferies Financial Group set a $37.00 price target on Brookfield Infrastructure Partners and gave the company a “hold” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $40.00 price objective on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and an average target price of $40.43.

Brookfield Infrastructure Partners Stock Up 0.5%

Shares of BIP stock opened at $35.22 on Friday. The stock’s 50 day simple moving average is $33.89 and its 200 day simple moving average is $32.71. Brookfield Infrastructure Partners LP has a twelve month low of $25.72 and a twelve month high of $36.10. 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 company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 704.54 and a beta of 1.14.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.42). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the business earned $0.76 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a yield of 4.9%. Brookfield Infrastructure Partners’s payout ratio is currently 256.72%.

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 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.