Sandy Spring Bank Purchases Shares of 1,146 Brookfield Infrastructure Partners L.P. (BIP)
Sandy Spring Bank bought a new position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) in the first quarter, HoldingsChannel reports. The firm bought 1,146 shares of the utilities provider’s stock, valued at approximately $48,000.
A number of other institutional investors also recently bought and sold shares of BIP. Cetera Advisor Networks LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $218,000. Park Avenue Securities LLC boosted its stake in shares of Brookfield Infrastructure Partners by 41.8% during the 1st quarter. Park Avenue Securities LLC now owns 12,371 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 3,648 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Brookfield Infrastructure Partners by 1.9% during the 1st quarter. Sigma Planning Corp now owns 24,962 shares of the utilities provider’s stock worth $1,045,000 after acquiring an additional 471 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $376,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth about $661,000. Institutional investors own 38.63% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Credit Suisse Group lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $49.00 price target on shares of Brookfield Infrastructure Partners in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $45.69.
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $954.88 million. Brookfield Infrastructure Partners had a net margin of 4.24% and a return on equity of 1.71%. Brookfield Infrastructure Partners’s quarterly revenue was up 57.3% compared to the same quarter last year. Sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.49 EPS for the current year.
The business also recently declared a dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.502 dividend. The ex-dividend date of this dividend is Thursday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 340.68%.
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Brookfield Infrastructure Partners Company Profile
Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy, and data infrastructure businesses. The Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 2,200 km of electricity transmission lines in North and South America; and approximately 6.6 million electricity and natural gas connections and 1.1 million smart meters, as well as operates metallurgical coal export terminals.
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