StrongBox Wealth LLC Has $2.34 Million Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

StrongBox Wealth LLC increased its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 47.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,211 shares of the utilities provider’s stock after buying an additional 19,811 shares during the quarter. Brookfield Infrastructure Partners makes up 1.5% of StrongBox Wealth LLC’s holdings, making the stock its 26th biggest position. StrongBox Wealth LLC’s holdings in Brookfield Infrastructure Partners were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BIP. BNP Paribas Arbitrage SA acquired a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at approximately $192,000. Private Advisor Group LLC lifted its holdings in Brookfield Infrastructure Partners by 1.6% during the 4th quarter. Private Advisor Group LLC now owns 23,108 shares of the utilities provider’s stock valued at $1,405,000 after purchasing an additional 369 shares during the last quarter. Invesco Ltd. lifted its holdings in Brookfield Infrastructure Partners by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,235,339 shares of the utilities provider’s stock valued at $75,121,000 after purchasing an additional 5,809 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in Brookfield Infrastructure Partners during the 4th quarter valued at $202,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Brookfield Infrastructure Partners by 2.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 79,877 shares of the utilities provider’s stock valued at $4,857,000 after purchasing an additional 2,244 shares during the last quarter. Institutional investors and hedge funds own 55.37% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP traded down $0.89 during mid-day trading on Friday, reaching $39.99. The company had a trading volume of 13,401 shares, compared to its average volume of 313,658. Brookfield Infrastructure Partners L.P. has a one year low of $36.00 and a one year high of $46.01. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 58.00 and a beta of 0.74. The business’s 50-day simple moving average is $40.90 and its 200 day simple moving average is $40.89.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last issued its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.53). Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 2.69 EPS for the current year.

Brookfield Infrastructure Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Tuesday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 208.70%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIP. TD Securities began coverage on Brookfield Infrastructure Partners in a report on Friday. They set a “buy” rating for the company. Wells Fargo & Company raised their price target on Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, August 4th. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group upgraded Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price objective on the stock in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Brookfield Infrastructure Partners Company Profile

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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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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