Financial Advocates Investment Management Decreases Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Financial Advocates Investment Management lessened its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 14.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,916 shares of the utilities provider’s stock after selling 1,473 shares during the quarter. Financial Advocates Investment Management’s holdings in Brookfield Infrastructure Partners were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BIP. Capital World Investors boosted its holdings in Brookfield Infrastructure Partners by 8.9% in the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock worth $1,198,095,000 after buying an additional 3,141,038 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 7.1% in the second quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after acquiring an additional 1,540,223 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Infrastructure Partners by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock valued at $168,680,000 after purchasing an additional 257,587 shares in the last quarter. CCLA Investment Management raised its stake in shares of Brookfield Infrastructure Partners by 35.0% during the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock valued at $119,180,000 after purchasing an additional 1,125,964 shares during the period. Finally, Select Equity Group L.P. lifted its holdings in Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after purchasing an additional 960,120 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 0.4 %

Shares of Brookfield Infrastructure Partners stock opened at $34.11 on Monday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50. The firm has a market cap of $15.82 billion, a PE ratio of -200.64 and a beta of 1.06. The company has a 50 day simple moving average of $33.81 and a two-hundred day simple moving average of $30.97.

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

Analysts Set New Price Targets

BIP has been the topic of several analyst reports. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

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.