Brookfield Infrastructure Partners LP $BIP Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Brookfield Infrastructure Partners LP by 27.1% during the first quarter, selling 41,574 shares and now holding 112,071 shares valued at approximately $3.34 million.
• Brookfield Infrastructure Partners reported earnings of $0.81 per share for the last quarter, below expectations, while its revenue of $5.43 billion surpassed analyst estimates of $1.95 billion.
• The company announced a quarterly dividend of $0.43 per share, translating to an annualized dividend yield of 5.7%, with a significant dividend payout ratio of 3,440.00%.

HighTower Advisors LLC lessened its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 27.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,071 shares of the utilities provider's stock after selling 41,574 shares during the quarter. HighTower Advisors LLC's holdings in Brookfield Infrastructure Partners were worth $3,339,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth about $35,000. SouthState Corp acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth about $37,000. Parallel Advisors LLC acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at approximately $45,000. Farther Finance Advisors LLC raised its holdings in Brookfield Infrastructure Partners by 565.6% in the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock valued at $68,000 after acquiring an additional 1,906 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in Brookfield Infrastructure Partners in the first quarter valued at approximately $80,000. Institutional investors and hedge funds own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Up 0.8%

BIP stock traded up $0.25 during midday trading on Wednesday, reaching $31.42. 511,904 shares of the company were exchanged, compared to its average volume of 544,322. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50. The stock's 50-day simple moving average is $31.85 and its 200 day simple moving average is $31.22. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 628.43 and a beta of 1.09.

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

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.5%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is presently 3,440.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup reduced their target price on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, 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 report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has a consensus rating of "Buy" and an average price target of $41.67.

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.