Brookfield Infrastructure Partners LP $BIP Position Lessened by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its stake in Brookfield Infrastructure Partners by 0.1%, selling 20,898 shares and maintaining a total of 16,412,069 shares, which now represents 0.4% of its investment portfolio.
• Brookfield Infrastructure Partners reported $0.81 EPS for the last quarter, slightly below analysts' expectations of $0.82, with a revenue increase of 5.7% year-over-year.
• The company also announced a quarterly dividend of $0.43 per share, reflecting a 5.7% dividend yield, with an ex-dividend date set for August 29th.

1832 Asset Management L.P. cut its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,412,069 shares of the utilities provider's stock after selling 20,898 shares during the quarter. Brookfield Infrastructure Partners makes up approximately 0.4% of 1832 Asset Management L.P.'s holdings, making the stock its 27th biggest position. 1832 Asset Management L.P. owned about 3.54% of Brookfield Infrastructure Partners worth $488,916,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BIP. GAMMA Investing LLC boosted its position in shares of Brookfield Infrastructure Partners by 947.1% during the first quarter. GAMMA Investing LLC now owns 9,026 shares of the utilities provider's stock valued at $269,000 after buying an additional 8,164 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 565.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock valued at $68,000 after buying an additional 1,906 shares in the last quarter. SG Americas Securities LLC acquired a new position in Brookfield Infrastructure Partners during the 1st quarter valued at about $320,000. Envestnet Asset Management Inc. increased its position in shares of Brookfield Infrastructure Partners by 18.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 89,377 shares of the utilities provider's stock valued at $2,663,000 after acquiring an additional 13,788 shares during the period. Finally, Northern Trust Corp lifted its stake in Brookfield Infrastructure Partners by 15.0% during the 4th quarter. Northern Trust Corp now owns 374,347 shares of the utilities provider's stock valued at $11,900,000 after acquiring an additional 48,787 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Up 1.1%

Shares of Brookfield Infrastructure Partners stock traded up $0.35 during trading hours on Wednesday, reaching $31.52. 178,129 shares of the company's stock were exchanged, compared to its average volume of 514,313. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $14.61 billion, a price-to-earnings ratio of 630.55 and a beta of 1.09. The company has a fifty day moving average of $31.88 and a 200-day moving average of $31.22. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the company posted $0.77 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. Sell-side analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently 3,440.00%.

Analyst Upgrades and Downgrades

BIP has been the subject of several research analyst reports. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup decreased their price target on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $41.67.

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.