DAVENPORT & Co LLC Has $5.27 Million Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

DAVENPORT & Co LLC cut its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIPFree Report) (TSE:BIP.UN) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,494 shares of the utilities provider’s stock after selling 666 shares during the period. DAVENPORT & Co LLC’s holdings in Brookfield Infrastructure Partners were worth $5,273,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC lifted its position in Brookfield Infrastructure Partners by 8,107.7% during the first quarter. Acadian Asset Management LLC now owns 1,067 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,054 shares during the period. Power Corp of Canada bought a new stake in Brookfield Infrastructure Partners during the first quarter worth about $73,000. Clear Street Markets LLC bought a new stake in Brookfield Infrastructure Partners during the fourth quarter worth about $38,000. Fairfield Bush & CO. bought a new stake in Brookfield Infrastructure Partners during the first quarter worth about $81,000. Finally, Rational Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the third quarter worth about $39,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

NYSE BIP opened at $29.01 on Thursday. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 207.23 and a beta of 0.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.64 and a current ratio of 0.68. The stock has a 50-day moving average of $30.28 and a 200 day moving average of $28.92. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $37.32.

Brookfield Infrastructure Partners (NYSE:BIPGet Free Report) (TSE:BIP.UN) last announced its earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.99). The firm had revenue of $4.97 billion during the quarter. Brookfield Infrastructure Partners had a return on equity of 0.79% and a net margin of 1.34%. On average, sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.32 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.405 per share. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Infrastructure Partners’s payout ratio is presently 1,157.23%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BIP. Jefferies Financial Group initiated coverage on shares of Brookfield Infrastructure Partners in a report on Tuesday, February 27th. They issued a “buy” rating for the company. National Bank Financial downgraded shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 30th. TD Securities reduced their price target on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Raymond James raised their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a research note on Friday, February 2nd. Finally, National Bankshares cut Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price on the stock. in a research note on Tuesday, January 30th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.11.

View Our Latest Analysis on Brookfield Infrastructure Partners

Brookfield Infrastructure Partners 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 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.

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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