Cannell & Spears LLC Has $5.99 Million Stake in Brookfield Infrastructure Partners LP $BIP

Cannell & Spears LLC reduced its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 13.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,648 shares of the utilities provider’s stock after selling 26,901 shares during the period. Cannell & Spears LLC’s holdings in Brookfield Infrastructure Partners were worth $5,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Acumen Wealth Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in Brookfield Infrastructure Partners by 225.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 675 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at approximately $42,000. Assetmark Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 544.1% in the 4th quarter. Assetmark Inc. now owns 1,256 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at $45,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant bought 1,150 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the purchase, the chief financial officer directly owned 2,150 shares of the company’s stock, valued at approximately $103,415. This trade represents a 115.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $40.96 on Friday. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 62.06 and a beta of 1.06. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.64 and a current ratio of 0.68. Brookfield Infrastructure Partners LP has a fifty-two week low of $29.63 and a fifty-two week high of $41.65. The firm’s 50-day simple moving average is $38.26 and its 200 day simple moving average is $37.24.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.28 by $0.62. Brookfield Infrastructure Partners had a return on equity of 2.54% and a net margin of 3.46%.The firm had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.63 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 275.76%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BIP. Wall Street Zen downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $45.00 price target (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Finally, National Bank Financial increased their target price on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.88.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.