Apollon Wealth Management LLC Raises Stock Position in Brookfield Infrastructure Partners LP $BIP

Key Points

• Apollon Wealth Management LLC increased its stake in Brookfield Infrastructure Partners LP by 66.2% in Q2, acquiring an additional 16,145 shares, bringing its total to 40,542 shares valued at approximately $1.36 million.
• Brookfield Infrastructure Partners reported earnings per share (EPS) of $0.81 for the last quarter, slightly missing the expected $0.82, while its revenue significantly exceeded estimates at $5.43 billion.
• The company announced a quarterly dividend of $0.43, providing an annualized yield of 5.0%, despite a notably high payout ratio of 3,440.00%.

Apollon Wealth Management LLC raised its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 66.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,542 shares of the utilities provider's stock after acquiring an additional 16,145 shares during the quarter. Apollon Wealth Management LLC's holdings in Brookfield Infrastructure Partners were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after acquiring an additional 945,462 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 4.3% during the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider's stock worth $197,811,000 after acquiring an additional 277,192 shares during the last quarter. CCLA Investment Management boosted its stake in shares of Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider's stock worth $172,537,000 after acquiring an additional 1,453,772 shares during the last quarter. BROOKFIELD Corp ON boosted its stake in shares of Brookfield Infrastructure Partners by 3.5% during the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider's stock worth $139,611,000 after acquiring an additional 158,881 shares during the last quarter. Finally, AGF Management Ltd. boosted its stake in shares of Brookfield Infrastructure Partners by 18.6% during the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider's stock worth $80,980,000 after acquiring an additional 426,248 shares during 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 $34.71 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market cap of $16.09 billion, a P/E ratio of 694.40 and a beta of 1.16. The firm's fifty day moving average is $31.51 and its two-hundred day moving average is $31.54. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. As a group, analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $0.43 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.0%. Brookfield Infrastructure Partners's payout ratio is 3,440.00%.

Analyst Ratings Changes

BIP has been the topic of several analyst reports. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Weiss Ratings restated a "sell (d+)" rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Brookfield Infrastructure Partners in a research note on Friday, August 29th. They set a "buy" rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $40.14.

Brookfield Infrastructure Partners Company 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.

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