LPL Financial LLC Grows Stock Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• LPL Financial LLC increased its stake in Brookfield Infrastructure Partners by 9.7% after purchasing 15,482 shares, bringing their total holdings to 174,576 shares valued at $5,201,000.
• The company recently reported $0.81 earnings per share for the last quarter, missing estimates slightly, despite a 5.7% increase in revenue year-over-year.
• Brookfield Infrastructure Partners announced a quarterly dividend of $0.43 per share, translating to an annual yield of 5.7%, with the ex-dividend date on August 29th.

LPL Financial LLC raised its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 9.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,576 shares of the utilities provider's stock after purchasing an additional 15,482 shares during the period. LPL Financial LLC's holdings in Brookfield Infrastructure Partners were worth $5,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at $35,000. Parallel Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at $45,000. Farther Finance Advisors LLC raised its position in shares of Brookfield Infrastructure Partners by 565.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Capital Analysts LLC raised its position in shares of Brookfield Infrastructure Partners by 85.8% in the 4th quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after acquiring an additional 2,020 shares in the last quarter. Finally, MGO One Seven LLC raised its position in shares of Brookfield Infrastructure Partners by 5.5% in 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. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Down 0.2%

Brookfield Infrastructure Partners stock traded down $0.07 during midday trading on Friday, reaching $29.79. The company's stock had a trading volume of 450,624 shares, compared to its average volume of 514,920. The stock's 50-day simple moving average is $32.37 and its 200-day simple moving average is $31.37. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50. The stock has a market capitalization of $13.84 billion, a P/E ratio of 595.92 and a beta of 1.09.

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

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.8%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is 3,440.00%.

Analyst Upgrades and Downgrades

BIP has been the subject of several recent research reports. Citigroup reduced their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.