Sequoia Financial Advisors LLC Sells 16,164 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Sequoia Financial Advisors LLC lowered its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 6.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 237,478 shares of the utilities provider’s stock after selling 16,164 shares during the period. Sequoia Financial Advisors LLC owned 0.05% of Brookfield Infrastructure Partners worth $6,516,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BIP. Cullen Frost Bankers Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the fourth quarter valued at about $30,000. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter valued at approximately $31,000. Clear Point Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $33,000. Bank & Trust Co bought a new position in shares of Brookfield Infrastructure Partners in the 2nd quarter worth $31,000. Finally, Bromfield Sneider Wealth Advisors acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at $39,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP traded up $0.19 on Tuesday, reaching $30.17. 48,683 shares of the company’s stock were exchanged, compared to its average volume of 474,725. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 96.71 and a beta of 1.03. The stock has a fifty day simple moving average of $29.27 and a 200-day simple moving average of $29.42. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $33.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted 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 company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.50% and a net margin of 0.82%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Wall Street Analysts Forecast Growth

BIP has been the subject of several recent research reports. Jefferies Financial Group decreased their target price on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets decreased their price target on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

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.