Empower Advisory Group LLC Invests $229,000 in Brookfield Infrastructure Partners LP $BIP

Empower Advisory Group LLC bought a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 6,837 shares of the utilities provider’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIP. SouthState Corp acquired a new stake in Brookfield Infrastructure Partners during the first quarter valued at approximately $37,000. Harbour Investments Inc. lifted its position in shares of Brookfield Infrastructure Partners by 23.1% during the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after buying an additional 474 shares during the period. Pandora Wealth Inc. bought a new position in shares of Brookfield Infrastructure Partners during the 1st quarter worth approximately $80,000. State of Wyoming acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at $97,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Brookfield Infrastructure Partners by 9.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 325 shares during the period. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 0.3%

Shares of BIP opened at $35.29 on Tuesday. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 705.86 and a beta of 1.14. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.10. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The business’s fifty day moving average price is $33.54 and its two-hundred day moving average price is $32.61.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. On average, analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 256.72%.

Analyst Ratings Changes

A number of brokerages have issued reports on BIP. National Bank Financial raised Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Weiss Ratings raised shares of Brookfield Infrastructure Partners from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. National Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two 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. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average price target of $40.43.

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.