Bank of Nova Scotia Sells 13,991 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

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 lessened its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,582,026 shares of the utilities provider's stock after selling 13,991 shares during the quarter. Bank of Nova Scotia owned 0.77% of Brookfield Infrastructure Partners worth $106,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Brookfield Infrastructure Partners by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after acquiring an additional 945,462 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Brookfield Infrastructure Partners by 8.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock worth $278,858,000 after acquiring an additional 650,892 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Brookfield Infrastructure Partners by 2.7% in the 4th quarter. Scotia Capital Inc. now owns 6,432,381 shares of the utilities provider's stock worth $202,492,000 after acquiring an additional 171,748 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Brookfield Infrastructure Partners by 6.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,492,480 shares of the utilities provider's stock worth $46,978,000 after acquiring an additional 94,103 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter worth $22,033,000. Institutional investors own 57.92% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Citigroup cut their price target on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $41.67.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $31.12 on Friday. The company's 50-day moving average is $32.84 and its 200 day moving average is $31.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.77. The company has a market capitalization of $14.45 billion, a P/E ratio of 622.52 and a beta of 1.09. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%. Brookfield Infrastructure Partners's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 5.5%. Brookfield Infrastructure Partners's dividend payout ratio is -8,600.00%.

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.

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