Steinberg Global Asset Management trimmed its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 88,373 shares of the utilities provider’s stock after selling 3,184 shares during the period. Steinberg Global Asset Management’s holdings in Brookfield Infrastructure Partners were worth $3,680,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth about $53,000. Capital Investment Advisors LLC acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth about $207,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Brookfield Infrastructure Partners by 20.0% during the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 94,632 shares of the utilities provider’s stock worth $3,962,000 after buying an additional 15,750 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Brookfield Infrastructure Partners during the fourth quarter worth about $612,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Brookfield Infrastructure Partners during the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 38.11% of the company’s stock.
Shares of BIP traded down $0.07 during mid-day trading on Monday, reaching $41.37. The company had a trading volume of 154,011 shares, compared to its average volume of 305,020. Brookfield Infrastructure Partners L.P. has a 1-year low of $32.26 and a 1-year high of $42.54. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.03. The company has a market cap of $14.32 billion, a P/E ratio of 70.12, a PEG ratio of 1.19 and a beta of 1.05.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, February 6th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 7.46% and a return on equity of 2.82%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $870.84 million. During the same period last year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 45.1% compared to the same quarter last year. On average, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were paid a $0.502 dividend. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.47. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, February 27th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 340.68%.
A number of brokerages have issued reports on BIP. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Credit Suisse Group restated a “buy” rating and issued a $46.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, December 21st. Finally, Raymond James restated an “outperform” rating and issued a $49.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, February 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Brookfield Infrastructure Partners presently has a consensus rating of “Buy” and a consensus target price of $45.56.
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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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