Brookfield Infrastructure Partners L.P. (NYSE:BIP) Position Reduced by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lowered its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,669 shares of the utilities provider’s stock after selling 2,730 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Brookfield Infrastructure Partners were worth $1,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC grew its position in Brookfield Infrastructure Partners by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 37,964 shares of the utilities provider’s stock worth $1,185,000 after purchasing an additional 830 shares during the last quarter. Coronation Fund Managers Ltd. grew its stake in shares of Brookfield Infrastructure Partners by 46.4% in the 1st quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider’s stock worth $3,029,000 after purchasing an additional 30,737 shares during the last quarter. Gold Investment Management Ltd. raised its holdings in shares of Brookfield Infrastructure Partners by 2.4% in the 1st quarter. Gold Investment Management Ltd. now owns 173,223 shares of the utilities provider’s stock worth $5,410,000 after purchasing an additional 4,119 shares in the last quarter. Tranquility Partners LLC boosted its holdings in Brookfield Infrastructure Partners by 1.6% during the first quarter. Tranquility Partners LLC now owns 68,361 shares of the utilities provider’s stock worth $2,134,000 after buying an additional 1,093 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at $247,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brookfield Infrastructure Partners Stock Up 0.6 %

Shares of NYSE BIP opened at $34.92 on Thursday. Brookfield Infrastructure Partners L.P. has a 12-month low of $22.21 and a 12-month high of $36.50. The firm’s 50-day simple moving average is $33.68 and its 200 day simple moving average is $30.77. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 112.63 and a beta of 1.06. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The company 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 firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. On average, research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

About Brookfield Infrastructure Partners

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.