Brookfield Infrastructure Partners LP $BIP Position Lessened by SCS Capital Management LLC

SCS Capital Management LLC reduced its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 41.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,990 shares of the utilities provider’s stock after selling 344,043 shares during the quarter. SCS Capital Management LLC’s holdings in Brookfield Infrastructure Partners were worth $16,348,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BIP. Cetera Investment Advisers boosted its holdings in shares of Brookfield Infrastructure Partners by 12.2% during the first quarter. Cetera Investment Advisers now owns 44,828 shares of the utilities provider’s stock valued at $1,335,000 after acquiring an additional 4,860 shares during the period. LPL Financial LLC increased its holdings in shares of Brookfield Infrastructure Partners by 9.7% in the 1st quarter. LPL Financial LLC now owns 174,576 shares of the utilities provider’s stock worth $5,201,000 after acquiring an additional 15,482 shares during the period. Pandora Wealth Inc. bought a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at about $80,000. Invesco Ltd. boosted its stake in Brookfield Infrastructure Partners by 4.5% during the 1st quarter. Invesco Ltd. now owns 2,289,985 shares of the utilities provider’s stock valued at $68,219,000 after purchasing an additional 97,735 shares during the period. Finally, SouthState Corp bought a new position in Brookfield Infrastructure Partners in the 1st quarter worth about $37,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BIP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield Infrastructure Partners in a report on Tuesday. National Bankshares set a $35.00 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Friday, September 26th. Wall Street Zen upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Morgan Stanley set a $44.00 price target on Brookfield Infrastructure Partners in a research note on Tuesday. Finally, National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners presently has an average rating of “Moderate Buy” and an average price target of $40.88.

Brookfield Infrastructure Partners Stock Performance

BIP opened at $35.90 on Friday. The business has a 50 day moving average price of $34.75 and a two-hundred day moving average price of $32.94. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.85 and a quick ratio of 0.81. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 53.58 and a beta of 1.09. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.58.

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

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 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.