Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC reduced its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.4% during the second quarter, HoldingsChannel reports. The firm owned 1,204,653 shares of the utilities provider’s stock after selling 29,968 shares during the quarter. Brookfield Infrastructure Partners comprises about 1.6% of Lake Street Advisors Group LLC’s holdings, making the stock its 18th largest holding. Lake Street Advisors Group LLC’s holdings in Brookfield Infrastructure Partners were worth $33,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Level Four Advisory Services LLC lifted its holdings in Brookfield Infrastructure Partners by 3.6% during the 4th quarter. Level Four Advisory Services LLC now owns 9,328 shares of the utilities provider’s stock worth $294,000 after buying an additional 328 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Brookfield Infrastructure Partners by 1.0% in the 2nd quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock worth $1,110,000 after acquiring an additional 381 shares during the period. Sterling Investment Counsel LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 5.0% during the 1st quarter. Sterling Investment Counsel LLC now owns 9,306 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 442 shares during the period. Callahan Advisors LLC boosted its stake in Brookfield Infrastructure Partners by 2.1% in the 2nd quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock valued at $607,000 after buying an additional 450 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Brookfield Infrastructure Partners by 4.7% during the fourth quarter. Belpointe Asset Management LLC now owns 12,011 shares of the utilities provider’s stock worth $378,000 after buying an additional 536 shares in the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Down 1.0 %

Shares of BIP stock opened at $31.08 on Friday. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $33.23. The company has a 50-day simple moving average of $30.66 and a two-hundred day simple moving average of $29.52. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 100.26 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.21%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

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.