Evermay Wealth Management LLC Boosts Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Evermay Wealth Management LLC lifted its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 814.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,200 shares of the utilities provider’s stock after acquiring an additional 2,850 shares during the quarter. Evermay Wealth Management LLC’s holdings in Brookfield Infrastructure Partners were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Level Four Advisory Services LLC lifted its stake in Brookfield Infrastructure Partners by 3.6% during the 4th quarter. Level Four Advisory Services LLC now owns 9,328 shares of the utilities provider’s stock valued at $294,000 after acquiring an additional 328 shares during the period. Sterling Investment Counsel LLC lifted its position in Brookfield Infrastructure Partners by 5.0% during the first quarter. Sterling Investment Counsel LLC now owns 9,306 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 442 shares during the period. Belpointe Asset Management LLC boosted its holdings in Brookfield Infrastructure Partners by 4.7% in the fourth quarter. Belpointe Asset Management LLC now owns 12,011 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 536 shares during the last quarter. Herold Advisors Inc. grew its position in Brookfield Infrastructure Partners by 0.5% in the 4th quarter. Herold Advisors Inc. now owns 117,892 shares of the utilities provider’s stock worth $3,712,000 after purchasing an additional 611 shares during the period. Finally, CWM LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 33.7% during the 4th quarter. CWM LLC now owns 2,986 shares of the utilities provider’s stock valued at $94,000 after buying an additional 753 shares during the period. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock traded down $0.11 on Thursday, hitting $30.93. 491,345 shares of the stock traded hands, compared to its average volume of 482,959. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 99.77 and a beta of 1.03. The firm has a 50 day simple moving average of $29.05 and a two-hundred day simple moving average of $29.44. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $36.20.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The business had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. Sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.62 dividend on an annualized basis and a yield of 5.24%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Analyst Ratings Changes

Several analysts recently commented on BIP shares. BMO Capital Markets cut their price objective on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Jefferies Financial Group cut their price target on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average price target of $38.20.

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.