Synergy Asset Management LLC Has $11.24 Million Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Synergy Asset Management LLC lifted its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 160.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,715 shares of the utilities provider’s stock after acquiring an additional 252,116 shares during the quarter. Brookfield Infrastructure Partners makes up 1.8% of Synergy Asset Management LLC’s portfolio, making the stock its 16th biggest holding. Synergy Asset Management LLC owned 0.09% of Brookfield Infrastructure Partners worth $11,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new position in Brookfield Infrastructure Partners during the fourth quarter worth $30,000. Heritage Wealth Advisors acquired a new position in Brookfield Infrastructure Partners during the fourth quarter worth $31,000. Clear Point Advisors Inc. acquired a new position in Brookfield Infrastructure Partners during the first quarter worth $33,000. Bank & Trust Co acquired a new position in Brookfield Infrastructure Partners during the second quarter worth $31,000. Finally, Bromfield Sneider Wealth Advisors acquired a new position in Brookfield Infrastructure Partners during the first quarter worth $39,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP traded down $0.01 during mid-day trading on Friday, hitting $31.37. The company had a trading volume of 3,180 shares, compared to its average volume of 460,046. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50-day simple moving average is $30.59 and its 200-day simple moving average is $29.50. Brookfield Infrastructure Partners L.P. has a 12 month low of $21.03 and a 12 month high of $33.23. The firm has a market cap of $14.55 billion, a P/E ratio of 101.19 and a beta of 1.03.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released 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). Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts predict that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

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

Analyst Ratings Changes

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

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.