Clearbridge Investments LLC Grows Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Clearbridge Investments LLC raised its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,077,227 shares of the utilities provider’s stock after buying an additional 509 shares during the quarter. Clearbridge Investments LLC’s holdings in Brookfield Infrastructure Partners were worth $64,830,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at about $30,000. Heritage Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners in the 4th quarter valued at approximately $31,000. Bromfield Sneider Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners in the 1st quarter valued at approximately $39,000. Rational Advisors LLC purchased a new position in shares of Brookfield Infrastructure Partners in the 1st quarter valued at approximately $42,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Brookfield Infrastructure Partners by 199.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,141 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Down 0.5 %

Shares of BIP stock traded down $0.16 during trading hours on Wednesday, hitting $31.04. 391,082 shares of the company’s stock were exchanged, compared to its average volume of 482,900. The firm has a market cap of $14.40 billion, a P/E ratio of 100.90 and a beta of 1.03. The firm has a 50 day moving average of $29.03 and a two-hundred day moving average of $29.42. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $36.20.

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

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Infrastructure Partners’s payout ratio is currently 522.58%.

Analyst Ratings Changes

BIP has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets reduced 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 report on Thursday, May 2nd. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.20.

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.