Brookfield Infrastructure Partners LP (NYSE:BIP) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 103.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,397 shares of the utilities provider's stock after purchasing an additional 12,402 shares during the period. Apollon Wealth Management LLC's holdings in Brookfield Infrastructure Partners were worth $727,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of BIP. MGO One Seven LLC raised its stake in shares of Brookfield Infrastructure Partners by 5.5% during the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after acquiring an additional 372 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 8.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider's stock worth $257,000 after buying an additional 602 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Brookfield Infrastructure Partners by 6.1% in the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider's stock worth $361,000 after buying an additional 647 shares during the last quarter. North Capital Inc. purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter worth $35,000. Finally, Value Partners Investments Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 7.4% in the fourth quarter. Value Partners Investments Inc. now owns 18,278 shares of the utilities provider's stock worth $580,000 after buying an additional 1,263 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BIP. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Citigroup cut their price objective on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners Trading Down 0.3%

BIP stock traded down $0.10 during trading on Friday, reaching $32.32. 501,129 shares of the stock were exchanged, compared to its average volume of 440,284. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $32.99 and a 200-day moving average price of $31.49. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of -1,615.19 and a beta of 1.08.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.41% and a return on equity of 1.04%. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is presently -8,600.00%.

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.