Wealthcare Advisory Partners LLC Takes Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Wealthcare Advisory Partners LLC bought a new position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,330 shares of the utilities provider’s stock, valued at approximately $728,000.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 22.1% during the 4th quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock valued at $628,265,000 after purchasing an additional 3,613,608 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Brookfield Infrastructure Partners by 9.6% during the 4th quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after acquiring an additional 1,678,140 shares during the period. Mackenzie Financial Corp raised its position in shares of Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after acquiring an additional 1,565,246 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Infrastructure Partners by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock valued at $525,947,000 after purchasing an additional 1,362,482 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Brookfield Infrastructure Partners by 20.0% during the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock valued at $211,259,000 after purchasing an additional 1,112,217 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $27.44 on Friday. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $37.15. The company has a market cap of $12.73 billion, a PE ratio of 88.52 and a beta of 1.04. The firm’s 50 day moving average price is $28.74 and its 200-day moving average price is $29.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The business had revenue of $5.19 billion during the quarter. Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. On average, analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.23 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 522.58%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BIP. BMO Capital Markets decreased their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Jefferies Financial Group decreased their price target on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

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.