Raymond James Financial Inc. Reduces Holdings in Brookfield Infrastructure Partners LP $BIP

Key Points

• Raymond James Financial Inc. has reduced its stake in Brookfield Infrastructure Partners by 3.8%, now owning 666,464 shares valued at approximately $19.85 million.
• Brookfield Infrastructure Partners announced a quarterly dividend of $0.43, resulting in an annual yield of 5.5%, with the payment date scheduled for September 29th.
• Recent analyst evaluations yield a consensus rating of "Buy" for Brookfield Infrastructure Partners, with a target price set at $41.67.

Raymond James Financial Inc. lessened its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 666,464 shares of the utilities provider's stock after selling 26,626 shares during the period. Raymond James Financial Inc. owned 0.14% of Brookfield Infrastructure Partners worth $19,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the business. MGO One Seven LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after purchasing an additional 372 shares during the period. Tacita Capital Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 0.5% during the first quarter. Tacita Capital Inc now owns 142,604 shares of the utilities provider's stock worth $4,244,000 after purchasing an additional 767 shares during the period. MRP Capital Investments LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 5.4% during the first quarter. MRP Capital Investments LLC now owns 20,825 shares of the utilities provider's stock worth $620,000 after purchasing an additional 1,075 shares during the period. North Capital Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth about $35,000. Finally, TIAA Trust National Association lifted its holdings in Brookfield Infrastructure Partners by 6.9% in the first quarter. TIAA Trust National Association now owns 19,001 shares of the utilities provider's stock valued at $566,000 after acquiring an additional 1,225 shares during the period. Hedge funds and other institutional investors own 57.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIP. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a report on Friday. They issued a "buy" rating and a $35.00 price target for the company. Finally, Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the company an "outperform" rating in a report on Wednesday, August 27th. One 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $41.00.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock traded down $0.37 on Monday, reaching $31.45. The company's stock had a trading volume of 529,459 shares, compared to its average volume of 535,002. The company has a market capitalization of $14.57 billion, a P/E ratio of 629.03 and a beta of 1.10. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50. The stock has a 50-day moving average price of $31.82 and a 200-day moving average price of $31.18. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66.

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

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.5%. Brookfield Infrastructure Partners's payout ratio is 3,440.00%.

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.