Brookfield Infrastructure Partners LP $BIP Shares Sold by Invesco Ltd.

Invesco Ltd. cut its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 6.3% during the second quarter, HoldingsChannel.com reports. The firm owned 2,145,360 shares of the utilities provider’s stock after selling 144,625 shares during the period. Invesco Ltd.’s holdings in Brookfield Infrastructure Partners were worth $71,870,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BIP. SouthState Corp purchased a new position in Brookfield Infrastructure Partners during the 1st quarter worth $37,000. Harbour Investments Inc. grew its stake in shares of Brookfield Infrastructure Partners by 23.1% during the second quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 474 shares during the last quarter. State of Wyoming acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at about $97,000. Delta Asset Management LLC TN raised its position in shares of Brookfield Infrastructure Partners by 3,263.4% in the 2nd quarter. Delta Asset Management LLC TN now owns 3,767 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP opened at $35.31 on Thursday. The firm’s fifty day moving average is $34.93 and its two-hundred day moving average is $33.02. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 52.70 and a beta of 1.09. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.81 and a current ratio of 0.85. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). Brookfield Infrastructure Partners had a net margin of 3.70% and a return on equity of 2.74%. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $2.05 billion. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. Research analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid 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 dividend yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 256.72%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BIP shares. National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley set a $44.00 target price on Brookfield Infrastructure Partners in a research report on Tuesday, December 2nd. Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.88.

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.