Laurel Wealth Advisors Inc. lifted its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,885 shares of the utilities provider’s stock after purchasing an additional 305 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $2,013,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC increased its stake in Brookfield Infrastructure Partners by 40.0% in the 2nd quarter. Gradient Investments LLC now owns 1,050 shares of the utilities provider’s stock valued at $45,000 after buying an additional 300 shares during the last quarter. Coastal Investment Advisors Inc. increased its stake in Brookfield Infrastructure Partners by 266.7% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,100 shares of the utilities provider’s stock valued at $47,000 after buying an additional 800 shares during the last quarter. Sandy Spring Bank acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at $48,000. Glen Harbor Capital Management LLC acquired a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at $54,000. Finally, Tyers Asset Management LLC acquired a new stake in Brookfield Infrastructure Partners in the 2nd quarter valued at $75,000. 46.42% of the stock is currently owned by institutional investors.
Shares of Brookfield Infrastructure Partners stock traded up $0.05 on Friday, reaching $47.40. 23,850 shares of the stock were exchanged, compared to its average volume of 300,143. The firm’s 50 day moving average is $45.50 and its 200-day moving average is $42.78. Brookfield Infrastructure Partners L.P. has a one year low of $32.26 and a one year high of $48.79. The firm has a market cap of $13.27 billion, a PE ratio of 80.34, a P/E/G ratio of 0.99 and a beta of 0.85.
The company also recently declared a dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.502 per share. The ex-dividend date of this dividend is Thursday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 340.68%.
Several equities research analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Brookfield Infrastructure Partners from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Credit Suisse Group set a $48.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock a “hold” rating in a research note on Monday. Bank of America boosted their price objective on shares of Brookfield Infrastructure Partners from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barclays restated a “hold” rating on shares of Brookfield Infrastructure Partners in a research note on Friday, August 2nd. Finally, TD Securities boosted their price objective on shares of Brookfield Infrastructure Partners from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.45.
Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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