Brookfield Infrastructure Partners LP (NYSE:BIP) Shares Sold by National Bank of Canada FI

Key Points

• National Bank of Canada FI has reduced its stake in Brookfield Infrastructure Partners LP by 3.0%, now owning approximately 5.23 million shares valued at about $154.54 million.
• The company reported a quarterly earnings per share of $0.81, missing estimates by $0.01, with revenue increasing 5.7% year-over-year to $5.43 billion.
• Brookfield Infrastructure Partners has announced a quarterly dividend of $0.43, resulting in an annualized yield of 5.7% for investors.

National Bank of Canada FI lessened its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,233,038 shares of the utilities provider's stock after selling 160,283 shares during the quarter. National Bank of Canada FI owned approximately 1.13% of Brookfield Infrastructure Partners worth $154,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Brookfield Infrastructure Partners by 35.0% during the fourth quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider's stock worth $950,000 after purchasing an additional 7,742 shares during the period. Geode Capital Management LLC grew its stake in Brookfield Infrastructure Partners by 39.5% during the 4th quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider's stock worth $606,000 after buying an additional 5,398 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Brookfield Infrastructure Partners by 1.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 75,589 shares of the utilities provider's stock worth $2,403,000 after acquiring an additional 1,300 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter valued at approximately $22,033,000. Finally, Bessemer Group Inc. increased its position in Brookfield Infrastructure Partners by 9.7% in the 4th quarter. Bessemer Group Inc. now owns 38,256 shares of the utilities provider's stock valued at $1,216,000 after acquiring an additional 3,371 shares during the period. Hedge funds and other institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Trading Down 2.1%

NYSE BIP opened at $30.27 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50. The firm's fifty day simple moving average is $32.68 and its 200-day simple moving average is $31.47. The company has a market capitalization of $14.06 billion, a PE ratio of 605.48 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released 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). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is 3,440.00%.

Analysts Set New Price Targets

BIP has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup cut their price objective on 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 investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.67.

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.

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