Private Advisor Group LLC Lowers Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Private Advisor Group LLC lowered its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,428 shares of the utilities provider’s stock after selling 8,787 shares during the quarter. Private Advisor Group LLC’s holdings in Brookfield Infrastructure Partners were worth $1,031,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Capital World Investors grew 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 acquiring an additional 3,141,038 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brookfield Infrastructure Partners by 7.1% during the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock valued at $636,417,000 after purchasing an additional 1,540,223 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Infrastructure Partners by 4.4% during the 2nd 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 boosted 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 in the last quarter. Finally, Select Equity Group L.P. boosted its stake in shares of 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 valued at $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 Price Performance

Brookfield Infrastructure Partners stock opened at $34.14 on Friday. The firm has a 50-day moving average price of $33.78 and a 200-day moving average price of $30.83. The firm has a market capitalization of $15.84 billion, a PE ratio of -201.12 and a beta of 1.06. 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 L.P. has a 12-month low of $24.84 and a 12-month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.80). The firm had revenue of $5.14 billion during 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%. Brookfield Infrastructure Partners’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. As a group, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped 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. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average price target of $39.50.

About Brookfield Infrastructure Partners

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.