Steinberg Global Asset Management decreased its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,373 shares of the utilities provider’s stock after selling 3,184 shares during the quarter. Steinberg Global Asset Management’s holdings in Brookfield Infrastructure Partners were worth $3,680,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at $31,000. Csenge Advisory Group acquired a new stake in Brookfield Infrastructure Partners in the third quarter valued at $45,000. Truvestments Capital LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at $53,000. Bronfman E.L. Rothschild L.P. lifted its stake in Brookfield Infrastructure Partners by 51.3% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,064 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 700 shares during the last quarter. Finally, ERTS Wealth Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at $72,000. Institutional investors and hedge funds own 38.11% of the company’s stock.
BIP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Credit Suisse Group reiterated a “buy” rating and issued a $46.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, December 21st. Finally, Raymond James reiterated an “outperform” rating and issued a $49.00 price target on shares of Brookfield Infrastructure Partners in a research note on Friday, February 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $45.56.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Wednesday, February 6th. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $870.84 million. Brookfield Infrastructure Partners had a net margin of 7.46% and a return on equity of 2.82%. The company’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. As a group, equities research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th were given a $0.502 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.47. This represents a $2.01 annualized dividend and a dividend yield of 4.85%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 340.68%.
Brookfield Infrastructure Partners Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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