Wealthcare Advisory Partners LLC Sells 2,251 Shares of Brookfield Infrastructure Partners LP $BIP

Wealthcare Advisory Partners LLC lessened its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 9.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 22,867 shares of the utilities provider’s stock after selling 2,251 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Brookfield Infrastructure Partners were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BIP. QRG Capital Management Inc. acquired a new stake in Brookfield Infrastructure Partners during the second quarter worth approximately $205,000. Sterling Investment Counsel LLC acquired a new stake in Brookfield Infrastructure Partners during the second quarter worth approximately $210,000. Gold Investment Management Ltd. grew its stake in Brookfield Infrastructure Partners by 4.0% during the second quarter. Gold Investment Management Ltd. now owns 164,114 shares of the utilities provider’s stock worth $5,497,000 after purchasing an additional 6,321 shares during the period. Truist Financial Corp grew its stake in Brookfield Infrastructure Partners by 1.3% during the second quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 314 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in Brookfield Infrastructure Partners by 6.9% during the second quarter. Janney Montgomery Scott LLC now owns 22,920 shares of the utilities provider’s stock worth $768,000 after purchasing an additional 1,472 shares during the period. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $34.59 on Thursday. The company has a market cap of $16.03 billion, a PE ratio of 691.94 and a beta of 1.16. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.50. The business has a 50 day moving average price of $31.32 and a 200-day moving average price of $31.43. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. Equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 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 Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 3,440.00%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Jefferies Financial Group assumed coverage on Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a “buy” rating and a $35.00 price target on the stock. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Wall Street Zen lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.14.

Brookfield Infrastructure Partners Company 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.