Brookfield Infrastructure Partners LP $BIP Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Brookfield Infrastructure Partners LP by 54.9%, selling 95,949 shares, and now holds 78,863 shares valued at approximately $2.35 million.
• Brookfield Infrastructure Partners has announced a quarterly dividend of $0.43 per share, with a yield of 5.6%, to be paid on September 29th.
• Despite missing earnings estimates with an EPS of $0.81, the company reported a revenue increase to $5.43 billion, exceeding analyst expectations.

Russell Investments Group Ltd. reduced its position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 54.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,863 shares of the utilities provider's stock after selling 95,949 shares during the period. Russell Investments Group Ltd.'s holdings in Brookfield Infrastructure Partners were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIP. North Capital Inc. purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth $35,000. SouthState Corp purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth $37,000. Parallel Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth $45,000. Farther Finance Advisors LLC increased its holdings in 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. Finally, Pandora Wealth Inc. purchased a new stake in Brookfield Infrastructure Partners in the 1st quarter worth $80,000. Hedge funds and other institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock traded down $0.37 during trading hours on Friday, reaching $31.45. 529,459 shares of the company's stock were exchanged, compared to its average volume of 535,002. The business has a fifty day moving average of $31.82 and a two-hundred day moving average 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. 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 1 year low of $25.72 and a 1 year 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 for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company's revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. As a group, research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently commented on BIP. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Jefferies Financial Group began coverage on shares of 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 target price on shares of Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $41.00.

About Brookfield Infrastructure Partners

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.