First Western Trust Bank Reduces Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

First Western Trust Bank trimmed its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.4% in the second quarter, HoldingsChannel.com reports. The fund owned 14,863 shares of the utilities provider’s stock after selling 687 shares during the quarter. First Western Trust Bank’s holdings in Brookfield Infrastructure Partners were worth $408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in Brookfield Infrastructure Partners in the 4th quarter valued at about $30,000. Heritage Wealth Advisors acquired a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at approximately $31,000. Clear Point Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $33,000. Bank & Trust Co purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $31,000. Finally, Bromfield Sneider Wealth Advisors acquired a new stake in Brookfield Infrastructure Partners during the first quarter worth approximately $39,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Down 0.3 %

Shares of BIP opened at $31.37 on Friday. Brookfield Infrastructure Partners L.P. has a twelve month low of $21.03 and a twelve month high of $33.23. The firm has a market capitalization of $14.55 billion, a P/E ratio of 101.19 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. The stock’s fifty day simple moving average is $30.59 and its 200 day simple moving average is $29.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.70 by ($0.80). The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 5.16%. Brookfield Infrastructure Partners’s payout ratio is 522.58%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIP shares. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average price target of $37.56.

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.