Apollon Wealth Management LLC Acquires 16,145 Shares of Brookfield Infrastructure Partners LP $BIP

Apollon Wealth Management LLC lifted its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 66.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 40,542 shares of the utilities provider’s stock after buying an additional 16,145 shares during the period. Apollon Wealth Management LLC’s holdings in Brookfield Infrastructure Partners were worth $1,358,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Truist Financial Corp increased its holdings in shares of Brookfield Infrastructure Partners by 1.3% in the 2nd quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after buying an additional 314 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Infrastructure Partners by 9.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 325 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in Brookfield Infrastructure Partners by 0.7% during the 1st quarter. Kestra Advisory Services LLC now owns 66,854 shares of the utilities provider’s stock valued at $1,992,000 after purchasing an additional 479 shares during the last quarter. Tacita Capital Inc grew its holdings in Brookfield Infrastructure Partners by 0.5% during the 1st quarter. Tacita Capital Inc now owns 142,604 shares of the utilities provider’s stock valued at $4,244,000 after purchasing an additional 767 shares during the last quarter. Finally, Tritonpoint Wealth LLC grew its holdings in Brookfield Infrastructure Partners by 0.7% during the 2nd quarter. Tritonpoint Wealth LLC now owns 152,605 shares of the utilities provider’s stock valued at $5,112,000 after purchasing an additional 1,012 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Brookfield Infrastructure Partners in a report on Friday, August 29th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus price target of $40.14.

Brookfield Infrastructure Partners Price Performance

Brookfield Infrastructure Partners stock opened at $34.71 on Tuesday. The stock has a market cap of $16.09 billion, a price-to-earnings ratio of 694.40 and a beta of 1.16. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The firm has a 50-day moving average of $31.51 and a two-hundred day moving average of $31.54.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the firm earned $0.77 earnings per share. Brookfield Infrastructure Partners’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.0%. Brookfield Infrastructure Partners’s payout ratio is 3,440.00%.

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.