SCS Capital Management LLC Reduces Stock Holdings in Brookfield Infrastructure Partners LP $BIP

SCS Capital Management LLC lessened its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 41.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 487,990 shares of the utilities provider’s stock after selling 344,043 shares during the quarter. SCS Capital Management LLC owned about 0.11% of Brookfield Infrastructure Partners worth $16,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers lifted its position in shares of Brookfield Infrastructure Partners by 12.2% during the first quarter. Cetera Investment Advisers now owns 44,828 shares of the utilities provider’s stock worth $1,335,000 after purchasing an additional 4,860 shares in the last quarter. LPL Financial LLC increased its stake in Brookfield Infrastructure Partners by 9.7% during the 1st quarter. LPL Financial LLC now owns 174,576 shares of the utilities provider’s stock worth $5,201,000 after buying an additional 15,482 shares during the period. Pandora Wealth Inc. purchased a new stake in Brookfield Infrastructure Partners during the 1st quarter worth $80,000. Invesco Ltd. lifted its holdings in Brookfield Infrastructure Partners by 4.5% in the 1st quarter. Invesco Ltd. now owns 2,289,985 shares of the utilities provider’s stock worth $68,219,000 after buying an additional 97,735 shares in the last quarter. Finally, SouthState Corp purchased a new position in Brookfield Infrastructure Partners in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIP. National Bank Financial raised Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. National Bankshares set a $35.00 price objective on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Royal Bank Of Canada set a $40.00 target price on Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley set a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has an average rating of “Moderate Buy” and an average target price of $40.88.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $35.90 on Friday. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.58. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.68. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 53.58 and a beta of 1.09. The stock has a 50 day moving average of $34.75 and a 200-day moving average of $32.94.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.42). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 2.74% and a net margin of 3.70%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. As a group, analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.72 annualized dividend and a dividend yield of 4.8%. Brookfield Infrastructure Partners’s payout ratio is 256.72%.

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.