Kingsview Wealth Management LLC Purchases 707 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Kingsview Wealth Management LLC grew its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,119 shares of the utilities provider’s stock after acquiring an additional 707 shares during the period. Kingsview Wealth Management LLC’s holdings in Brookfield Infrastructure Partners were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dunhill Financial LLC bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $30,000. Truvestments Capital LLC bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $77,000. Wilmington Savings Fund Society FSB bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $101,000. Eastern Bank bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $158,000. Finally, Colonial River Investments LLC bought a new position in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $200,000. 57.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BIP has been the topic of several recent research reports. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. Raymond James lifted their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. Scotiabank lifted their price objective on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, TD Securities lifted their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Buy” and an average target price of $42.50.

Brookfield Infrastructure Partners Trading Down 1.1 %

BIP opened at $32.83 on Friday. The stock has a market cap of $15.24 billion, a PE ratio of 820.86 and a beta of 1.08. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72. The business has a 50 day moving average of $32.37 and a 200-day moving average of $33.08. Brookfield Infrastructure Partners L.P. has a 52 week low of $24.84 and a 52 week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. Equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.43 per share. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 5.24%. Brookfield Infrastructure Partners’s payout ratio is presently 4,300.00%.

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.