Todays Report: Today, Beck Mack & Oliver LLC Cuts Position in Brookfield Infrastructure Partners LP (BIP)

Today, Beck Mack & Oliver LLC Cuts Position in Brookfield Infrastructure Partners LP (BIP)

Beck Mack & Oliver LLC decreased its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 8,869 shares of the company’s stock after selling 248 shares during the period. Beck Mack & Oliver LLC’s holdings in Brookfield Infrastructure Partners were worth $401,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bollard Group LLC increased its stake in shares of Brookfield Infrastructure Partners by 1.2% in the second quarter. Bollard Group LLC now owns 2,348 shares of the company’s stock valued at $106,000 after buying an additional 28 shares in the last quarter. Creative Planning increased its stake in shares of Brookfield Infrastructure Partners by 11.3% in the second quarter. Creative Planning now owns 9,034 shares of the company’s stock valued at $409,000 after buying an additional 918 shares in the last quarter. Wealthsource Partners LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the first quarter valued at approximately $504,000. Sigma Planning Corp increased its stake in shares of Brookfield Infrastructure Partners by 8.8% in the second quarter. Sigma Planning Corp now owns 15,081 shares of the company’s stock valued at $683,000 after buying an additional 1,223 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Brookfield Infrastructure Partners by 26.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,029 shares of the company’s stock valued at $1,392,000 after buying an additional 6,938 shares in the last quarter. Institutional investors and hedge funds own 29.79% of the company’s stock.

Shares of Brookfield Infrastructure Partners LP (NYSE:BIP) traded up 0.71% during trading on Tuesday, reaching $34.28. The company had a trading volume of 80,253 shares. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 38.30 and a beta of 0.93. The company’s 50 day moving average is $37.40 and its 200-day moving average is $31.69. Brookfield Infrastructure Partners LP has a 1-year low of $20.33 and a 1-year high of $49.89.

Brookfield Infrastructure Partners (NYSE:BIP) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.77. Brookfield Infrastructure Partners had a net margin of 20.77% and a return on equity of 5.40%. The business had revenue of $462 million for the quarter, compared to analyst estimates of $674.50 million. On average, equities research analysts anticipate that Brookfield Infrastructure Partners LP will post $1.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.59 per share. The ex-dividend date was Monday, August 29th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.93%. Brookfield Infrastructure Partners’s payout ratio is 175.75%.

BIP has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $35.33 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, June 28th. Credit Suisse Group AG reissued a “buy” rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, September 20th. TD Securities reissued a “buy” rating and set a $33.33 price target (up from $32.00) on shares of Brookfield Infrastructure Partners in a report on Wednesday, July 6th. Barclays PLC reissued an “equal weight” rating and set a $42.67 price target (up from $42.00) on shares of Brookfield Infrastructure Partners in a report on Thursday, August 4th. Finally, Citigroup Inc. increased their price target on Brookfield Infrastructure Partners from $31.33 to $35.00 and gave the company a “neutral” rating in a report on Monday, September 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Brookfield Infrastructure Partners has a consensus rating of “Buy” and a consensus target price of C$38.10.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include Utilities, Transport, Energy, Communications Infrastructure and Other. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.

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