Chicago Partners Investment Group LLC Decreases Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Chicago Partners Investment Group LLC lowered its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 548,474 shares of the utilities provider’s stock after selling 2,214 shares during the period. Chicago Partners Investment Group LLC’s holdings in Brookfield Infrastructure Partners were worth $19,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cedar Mountain Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $26,000. Clear Point Advisors Inc. bought a new stake in Brookfield Infrastructure Partners in the first quarter worth about $33,000. Bank & Trust Co purchased a new position in Brookfield Infrastructure Partners in the second quarter valued at about $31,000. Park Place Capital Corp bought a new position in shares of Brookfield Infrastructure Partners during the 2nd quarter valued at approximately $41,000. Finally, Asset Dedication LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Finally, Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $34.14 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of -200.82 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The stock’s 50-day simple moving average is $33.81 and its 200 day simple moving average is $30.89.

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

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.