Brookfield Infrastructure Partners LP (NYSE:BIP) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its holdings in Brookfield Infrastructure Partners by 0.4%, selling 13,991 shares in the first quarter, leaving it with 3,582,026 shares valued at approximately $106.57 million.
• Brookfield Infrastructure Partners recently missed analysts' earnings expectations by reporting $0.81 earnings per share, compared to the consensus estimate of $0.82, despite a revenue increase of 5.7% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.43 per share, resulting in an annualized yield of 5.5%, with the ex-dividend date set for August 29th.

Bank of Nova Scotia decreased its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 0.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,582,026 shares of the utilities provider's stock after selling 13,991 shares during the period. Bank of Nova Scotia owned approximately 0.77% of Brookfield Infrastructure Partners worth $106,577,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Forge First Asset Management Inc. raised its position in shares of Brookfield Infrastructure Partners by 105.1% during the 1st quarter. Forge First Asset Management Inc. now owns 148,898 shares of the utilities provider's stock worth $4,437,000 after purchasing an additional 76,300 shares during the last quarter. TIAA Trust National Association raised its holdings in shares of Brookfield Infrastructure Partners by 6.9% during the 1st quarter. TIAA Trust National Association now owns 19,001 shares of the utilities provider's stock worth $566,000 after acquiring an additional 1,225 shares during the period. LPL Financial LLC boosted its position in shares of Brookfield Infrastructure Partners by 9.7% during the 1st quarter. LPL Financial LLC now owns 174,576 shares of the utilities provider's stock valued at $5,201,000 after acquiring an additional 15,482 shares during the last quarter. MRP Capital Investments LLC increased its position in Brookfield Infrastructure Partners by 5.4% during the first quarter. MRP Capital Investments LLC now owns 20,825 shares of the utilities provider's stock worth $620,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Brookfield Infrastructure Partners by 12.2% in the 1st quarter. Cetera Investment Advisers now owns 44,828 shares of the utilities provider's stock valued at $1,335,000 after purchasing an additional 4,860 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Down 1.2%

NYSE BIP traded down $0.37 during trading on Wednesday, reaching $30.95. 571,995 shares of the company's stock were exchanged, compared to its average volume of 512,400. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.11. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The company has a 50 day moving average price of $32.79 and a two-hundred day moving average price of $31.48. The stock has a market cap of $14.37 billion, a P/E ratio of 619.02 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure Partners's payout ratio is 3,440.00%.

Analysts Set New Price Targets

BIP has been the topic of a number of research reports. Citigroup decreased their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.