AdvisorNet Financial Inc Has $283,000 Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

AdvisorNet Financial Inc grew its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,409 shares of the utilities provider’s stock after acquiring an additional 2,469 shares during the period. AdvisorNet Financial Inc’s holdings in Brookfield Infrastructure Partners were worth $283,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors increased its holdings in shares of Brookfield Infrastructure Partners by 8.8% during the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock worth $1,196,578,000 after purchasing an additional 1,584,397 shares during the period. TD Asset Management Inc. increased its stake in Brookfield Infrastructure Partners by 1.9% in the first quarter. TD Asset Management Inc. now owns 10,419,025 shares of the utilities provider’s stock valued at $690,427,000 after acquiring an additional 198,395 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Brookfield Infrastructure Partners by 1.1% in the first quarter. 1832 Asset Management L.P. now owns 9,907,990 shares of the utilities provider’s stock valued at $647,951,000 after acquiring an additional 110,363 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brookfield Infrastructure Partners by 2.5% in the first quarter. Principal Financial Group Inc. now owns 9,482,667 shares of the utilities provider’s stock valued at $628,037,000 after acquiring an additional 229,265 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Brookfield Infrastructure Partners by 3.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,722,352 shares of the utilities provider’s stock valued at $469,596,000 after acquiring an additional 254,286 shares during the last quarter. 55.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BIP shares. StockNews.com cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 target price on the stock in a research note on Thursday, June 30th. Finally, Wells Fargo & Company boosted their target price on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP opened at $41.05 on Tuesday. The firm has a market cap of $18.80 billion, a PE ratio of 59.49 and a beta of 0.74. The firm’s fifty day moving average is $40.73 and its 200-day moving average is $40.86. Brookfield Infrastructure Partners L.P. has a 52 week low of $35.81 and a 52 week high of $46.01.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last issued its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.53). The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $2.12 billion. Brookfield Infrastructure Partners had a return on equity of 2.75% and a net margin of 5.20%. Brookfield Infrastructure Partners’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 2.69 EPS for the current year.

Brookfield Infrastructure Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be issued a $0.36 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.44 annualized dividend and a yield of 3.51%. Brookfield Infrastructure Partners’s payout ratio is 208.70%.

Brookfield Infrastructure Partners Profile

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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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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