Sequoia Financial Advisors LLC Lowers Position in Brookfield Infrastructure Partners LP $BIP

Sequoia Financial Advisors LLC trimmed its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,764 shares of the utilities provider’s stock after selling 24,878 shares during the quarter. Sequoia Financial Advisors LLC owned 0.10% of Brookfield Infrastructure Partners worth $17,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIP. Acumen Wealth Advisors LLC purchased a new position in Brookfield Infrastructure Partners during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in shares of Brookfield Infrastructure Partners by 225.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 675 shares during the period. Allied Private Wealth LLC acquired a new position in Brookfield Infrastructure Partners during the second quarter worth $37,000. Hillsdale Investment Management Inc. purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter worth $45,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Brookfield Infrastructure Partners during the first quarter worth $49,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup restated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Brookfield Infrastructure Partners in a report on Monday, August 3rd. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. BMO Capital Markets raised their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. National Bank Financial increased their target price on shares of Brookfield Infrastructure Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $47.00 price target (up from $45.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Brookfield Infrastructure Partners Stock Down 0.2%

Shares of NYSE:BIP opened at $36.57 on Friday. Brookfield Infrastructure Partners LP has a fifty-two week low of $30.51 and a fifty-two week high of $44.03. The firm’s 50 day moving average price is $38.84 and its 200 day moving average price is $37.91. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 1.83. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 58.98 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.16 by $0.73. Brookfield Infrastructure Partners had a net margin of 3.51% and a return on equity of 2.63%. The company had revenue of $6.48 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts predict that Brookfield Infrastructure Partners LP will post 3.66 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Infrastructure Partners’s dividend payout ratio is 293.55%.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. is a global owner and operator of essential infrastructure assets. The partnership invests in and manages businesses that provide critical services to communities and industries, with a focus on assets that generate long-term, stable cash flows.

Its operations span several infrastructure sectors, including utilities, transportation, midstream energy, and data infrastructure. These businesses include electricity and natural gas transmission and distribution networks, railroads, toll roads, ports, pipelines, natural gas processing and storage facilities, telecommunications towers, and data centers.

Brookfield Infrastructure serves customers across North America, South America, Europe, and the Asia-Pacific region.