Asset Dedication LLC Invests $46,000 in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Asset Dedication LLC bought a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,673 shares of the utilities provider’s stock, valued at approximately $46,000.

A number of other large investors have also recently bought and sold shares of the stock. Level Four Advisory Services LLC grew its holdings in Brookfield Infrastructure Partners by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 9,328 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 328 shares during the period. NBC Securities Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 1.0% in the 2nd quarter. NBC Securities Inc. now owns 40,471 shares of the utilities provider’s stock valued at $1,110,000 after purchasing an additional 381 shares in the last quarter. Sterling Investment Counsel LLC lifted its stake in shares of Brookfield Infrastructure Partners by 5.0% in the 1st quarter. Sterling Investment Counsel LLC now owns 9,306 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 442 shares in the last quarter. Callahan Advisors LLC increased its position in Brookfield Infrastructure Partners by 2.1% during the 2nd quarter. Callahan Advisors LLC now owns 22,129 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 450 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its position in Brookfield Infrastructure Partners by 4.7% during the 4th quarter. Belpointe Asset Management LLC now owns 12,011 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 536 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Wall Street Analysts Forecast Growth

BIP has been the topic of a number of recent research reports. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and a consensus price target of $37.56.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE BIP opened at $31.83 on Tuesday. The business has a 50 day moving average price of $30.74 and a two-hundred day moving average price of $29.48. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $33.23. The firm has a market cap of $14.77 billion, a PE ratio of 102.68 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.80). The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 5.09%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) 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.