National Bank of Canada FI Sells 160,283 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

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 reduced its position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,233,038 shares of the utilities provider's stock after selling 160,283 shares during the period. National Bank of Canada FI owned about 1.13% of Brookfield Infrastructure Partners worth $154,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. North Capital Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $35,000. Parallel Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at approximately $45,000. Farther Finance Advisors LLC raised its holdings in shares of Brookfield Infrastructure Partners by 565.6% during the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Capital Analysts LLC increased its stake in shares of Brookfield Infrastructure Partners by 85.8% during the 4th quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after purchasing an additional 2,020 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in shares of Brookfield Infrastructure Partners by 5.5% during the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company's stock.

Brookfield Infrastructure Partners Trading Up 1.0%

Shares of NYSE BIP traded up $0.29 during trading on Tuesday, reaching $30.45. The stock had a trading volume of 273,348 shares, compared to its average volume of 513,590. The company has a market cap of $14.14 billion, a P/E ratio of 609.64 and a beta of 1.09. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The business's 50-day moving average price is $32.56 and its 200-day moving average price is $31.41. 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 posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the business earned $0.77 EPS. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIP. Citigroup lowered their price objective 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. 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. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.