Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 23.0% in the third quarter, HoldingsChannel.com reports. The fund owned 29,428 shares of the utilities provider’s stock after selling 8,787 shares during the period. Private Advisor Group LLC’s holdings in Brookfield Infrastructure Partners were worth $1,031,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BIP. Cedar Mountain Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the third quarter worth $26,000. Bank & Trust Co acquired a new position in Brookfield Infrastructure Partners in the second quarter valued at about $31,000. Clear Point Advisors Inc. acquired a new position in Brookfield Infrastructure Partners in the first quarter valued at about $33,000. Park Place Capital Corp acquired a new position in Brookfield Infrastructure Partners in the second quarter valued at about $41,000. Finally, Asset Dedication LLC acquired a new position in Brookfield Infrastructure Partners in the second quarter valued at about $46,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIP. Jefferies Financial Group upped their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Brookfield Infrastructure Partners Stock Down 0.3 %

Shares of BIP opened at $34.14 on Friday. The stock has a market capitalization of $15.84 billion, a PE ratio of -201.12 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50. 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 company’s 50-day simple moving average is $33.78 and its 200-day simple moving average is $30.83.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share 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 analyst estimates of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Company 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.