Sequoia Financial Advisors LLC Grows Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Sequoia Financial Advisors LLC boosted its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 137.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 564,621 shares of the utilities provider’s stock after buying an additional 327,143 shares during the period. Sequoia Financial Advisors LLC’s holdings in Brookfield Infrastructure Partners were worth $19,784,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in Brookfield Infrastructure Partners during the third quarter worth $26,000. Bank & Trust Co purchased a new position in Brookfield Infrastructure Partners during the second quarter worth $31,000. Clear Point Advisors Inc. purchased a new position in Brookfield Infrastructure Partners during the first quarter worth $33,000. Park Place Capital Corp purchased a new position in Brookfield Infrastructure Partners during the second quarter worth $41,000. Finally, Asset Dedication LLC purchased a new position in Brookfield Infrastructure Partners during the second quarter worth $46,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Down 1.0 %

Shares of BIP traded down $0.37 during midday trading on Tuesday, reaching $35.77. 243,101 shares of the company were exchanged, compared to its average volume of 436,558. The stock has a 50-day moving average price of $33.17 and a 200-day moving average price of $30.46. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 116.56 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 1-year low of $21.03 and a 1-year high of $36.50. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate 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 net margin of 0.82% and a return on equity of 0.51%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Finally, Jefferies Financial Group lifted their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and a consensus target price of $39.29.

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.