Brookfield Infrastructure Partners L.P. (NYSE:BIP) Stake Reduced by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC trimmed its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,898 shares of the utilities provider’s stock after selling 2,334 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Brookfield Infrastructure Partners were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $33,000. Bank & Trust Co acquired a new stake in shares of Brookfield Infrastructure Partners in the second quarter worth $31,000. Bromfield Sneider Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at $39,000. Park Place Capital Corp acquired a new position in Brookfield Infrastructure Partners during the second quarter valued at $41,000. Finally, Asset Dedication LLC purchased a new stake in Brookfield Infrastructure Partners in the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BIP shares. Jefferies Financial Group upped their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Finally, Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.50.

Brookfield Infrastructure Partners Stock Down 0.4 %

Shares of BIP opened at $35.04 on Tuesday. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $35.48. The firm has a market capitalization of $16.25 billion, a P/E ratio of 113.03 and a beta of 1.05. The company has a 50-day simple moving average of $31.90 and a 200-day simple moving average of $29.90. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. On average, equities research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 4.62%. The ex-dividend date was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

About Brookfield Infrastructure Partners

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.