Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Ameritas Advisory Services LLC

Posted by Defense World Staff on Jul 23rd, 2023

Ameritas Advisory Services LLC cut its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP – Free Report) (TSE:BIP.UN) by 51.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,460 shares of the utilities provider’s stock after selling 10,875 shares during the period. Ameritas Advisory Services LLC’s holdings in Brookfield Infrastructure Partners were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIP. Clear Street Markets LLC purchased a new position in Brookfield Infrastructure Partners in the 4th quarter valued at about $38,000. Pacifica Partners Inc. lifted its position in shares of Brookfield Infrastructure Partners by 305.4% in the first quarter. Pacifica Partners Inc. now owns 1,792 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,350 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $63,000. Power Corp of Canada acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter worth approximately $73,000. Finally, Fairfield Bush & CO. purchased a new stake in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $81,000. 47.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Down 0.0 %

Shares of NYSE:BIP opened at $35.69 on Friday. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 446.13 and a beta of 0.88. Brookfield Infrastructure Partners L.P. has a 12-month low of $30.03 and a 12-month high of $43.62. The business has a 50-day moving average price of $36.12 and a 200 day moving average price of $34.84.

Brookfield Infrastructure Partners (NYSE:BIP – Get Free Report) (TSE:BIP.UN) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.79). Brookfield Infrastructure Partners had a net margin of 1.67% and a return on equity of 1.00%. The company had revenue of $4.22 billion during the quarter. As a group, equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.07 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were paid a dividend of $0.382 per share. This represents a $1.53 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Tuesday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 1,912.50%.

Analysts Set New Price Targets

BIP has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Brookfield Infrastructure Partners from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, April 13th. National Bankshares boosted their target price on Brookfield Infrastructure Partners from $38.00 to $39.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Brookfield Infrastructure Partners in a report on Thursday, April 13th. Finally, StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average price target of $42.60.

Brookfield Infrastructure Partners Company Profile

(Free Report)

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 60,000 kilometers (km) of operational electricity transmission and distribution lines; 2,900 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.8 million electricity and natural gas connections; and 540,000 long-term contracted sub-metering services.