Apollon Wealth Management LLC Trims Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Apollon Wealth Management LLC trimmed its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,995 shares of the utilities provider’s stock after selling 4,276 shares during the period. Apollon Wealth Management LLC’s holdings in Brookfield Infrastructure Partners were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIP. Dunhill Financial LLC purchased a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at about $30,000. Truvestments Capital LLC purchased a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at about $77,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth about $101,000. Eastern Bank purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth about $158,000. Finally, Colonial River Investments LLC purchased a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth about $200,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Up 1.7 %

NYSE BIP opened at $33.16 on Friday. Brookfield Infrastructure Partners L.P. has a one year low of $24.84 and a one year high of $36.50. The company’s 50 day moving average price is $32.44 and its 200 day moving average price is $33.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 829.18 and a beta of 1.08.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. On average, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.43 dividend. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 5.19%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 4,051.01%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BIP shares. Raymond James increased their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. Scotiabank increased their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. One equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $42.50.

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.