EP Wealth Advisors LLC Sells 1,200 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

EP Wealth Advisors LLC lowered its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,634 shares of the utilities provider’s stock after selling 1,200 shares during the period. EP Wealth Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new position in Brookfield Infrastructure Partners in the fourth quarter valued at $59,000. Novak & Powell Financial Services Inc. acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter valued at $805,000. Fort Sheridan Advisors LLC lifted its stake in Brookfield Infrastructure Partners by 3.9% in the fourth quarter. Fort Sheridan Advisors LLC now owns 58,838 shares of the utilities provider’s stock valued at $1,853,000 after acquiring an additional 2,232 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Brookfield Infrastructure Partners by 9.6% in the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock valued at $604,894,000 after acquiring an additional 1,678,140 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Brookfield Infrastructure Partners by 199.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 1,141 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIP. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Jefferies Financial Group cut their price target on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, BMO Capital Markets cut their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.20.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $27.06 on Wednesday. The firm has a 50-day moving average of $28.54 and a 200-day moving average of $29.61. The stock has a market cap of $12.55 billion, a PE ratio of 87.29 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $37.15.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. The company had revenue of $5.19 billion for the quarter. As a group, analysts predict that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is 522.58%.

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.