21,440 Shares in Brookfield Infrastructure Partners LP (NYSE:BIP) Purchased by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,440 shares of the utilities provider's stock, valued at approximately $639,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its position in Brookfield Infrastructure Partners by 3.5% during the first quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after purchasing an additional 945,462 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Brookfield Infrastructure Partners during the fourth quarter worth approximately $22,033,000. Guardian Capital LP acquired a new position in Brookfield Infrastructure Partners during the fourth quarter worth approximately $21,099,000. Mackenzie Financial Corp increased its position in Brookfield Infrastructure Partners by 8.0% during the fourth quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock worth $278,858,000 after purchasing an additional 650,892 shares during the last quarter. Finally, Mufg Securities Canada LTD. increased its position in Brookfield Infrastructure Partners by 72.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 704,968 shares of the utilities provider's stock worth $22,388,000 after purchasing an additional 295,232 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Up 0.1%

BIP traded up $0.03 during trading hours on Friday, reaching $32.45. 68,508 shares of the stock traded hands, compared to its average volume of 439,005. The firm's fifty day simple moving average is $32.98 and its two-hundred day simple moving average is $31.48. The company has a market cap of $15.07 billion, a price-to-earnings ratio of -1,620.89 and a beta of 1.08. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.77 and a quick ratio of 0.73.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, beating 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 firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the firm posted $0.78 EPS. As a group, analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.43 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.30%. Brookfield Infrastructure Partners's payout ratio is currently -8,600.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup reduced their price objective on 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. Royal Bank Of Canada restated an "outperform" rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Finally, Wall Street Zen upgraded Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Brookfield Infrastructure Partners presently has a consensus rating of "Buy" and a consensus target price of $41.67.

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.