Brookfield Infrastructure Partners LP $BIP Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 472,764 shares of the utilities provider’s stock after selling 24,878 shares during the period. Sequoia Financial Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $17,251,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Brookfield Infrastructure Partners in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC raised its stake in Brookfield Infrastructure Partners by 225.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 675 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in Brookfield Infrastructure Partners during the 2nd quarter worth $37,000. Hillsdale Investment Management Inc. purchased a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at $45,000. Finally, Global Assets Advisory LLC purchased a new stake in Brookfield Infrastructure Partners in the first quarter valued at $49,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $36.57 on Friday. The company has a 50-day simple moving average of $38.84 and a 200-day simple moving average of $37.91. Brookfield Infrastructure Partners LP has a one year low of $30.51 and a one year high of $44.03. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.89. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 58.98 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.73. Brookfield Infrastructure Partners had a return on equity of 2.63% and a net margin of 3.51%.The firm had revenue of $6.48 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the company posted $0.81 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. On average, analysts predict that Brookfield Infrastructure Partners LP will post 3.66 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, August 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 293.55%.

Analysts Set New Price Targets

Several equities analysts have issued reports on BIP shares. BMO Capital Markets raised their price objective on Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $47.00 target price (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. National Bank Financial raised their price target on Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings raised Brookfield Infrastructure Partners from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Finally, Citigroup reiterated a “neutral” rating and issued a $41.00 price objective (up from $37.00) on shares of Brookfield Infrastructure Partners in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.33.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on assets that generate long-term, stable cash flows.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. These businesses include electricity and natural gas transmission and distribution networks, railroads, toll roads, ports, pipelines, natural gas processing and storage facilities, telecommunications towers, and data centers.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.