Chicago Partners Investment Group LLC Cuts Stake in Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• Chicago Partners Investment Group LLC has decreased its stake in Brookfield Infrastructure Partners by 2.1%, owning approximately $16.80 million in shares as of its latest SEC filing.
• Several hedge funds have modified their positions, with CCLA Investment Management increasing its holdings by 33.5% and Principal Financial Group increasing its position by 3.5% during the same quarter.
• Brookfield Infrastructure reported a quarterly earnings miss with $0.81 earnings per share, slightly below the expected $0.82, while revenue rose 5.7% year-over-year to $5.43 billion.

Chicago Partners Investment Group LLC decreased its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 2.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 530,853 shares of the utilities provider's stock after selling 11,610 shares during the period. Chicago Partners Investment Group LLC owned about 0.11% of Brookfield Infrastructure Partners worth $16,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CCLA Investment Management lifted its holdings in shares of Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider's stock valued at $172,537,000 after buying an additional 1,453,772 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 4.3% during the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider's stock valued at $197,811,000 after buying an additional 277,192 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in shares of Brookfield Infrastructure Partners by 2.9% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 46,759 shares of the utilities provider's stock valued at $1,393,000 after buying an additional 1,303 shares during the period. Forge First Asset Management Inc. lifted its holdings 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 valued at $4,437,000 after buying an additional 76,300 shares during the period. Finally, TIAA Trust National Association lifted 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 valued at $566,000 after buying an additional 1,225 shares during the period. Hedge funds and other institutional investors own 57.92% of the company's stock.

Wall Street Analyst Weigh In

BIP has been the subject of several analyst reports. Wall Street Zen upgraded Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup dropped their price target on 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. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP traded up $0.11 during trading hours on Monday, reaching $30.21. 201,049 shares of the company traded hands, compared to its average volume of 512,958. The stock has a market capitalization of $14.03 billion, a P/E ratio of 604.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.50. The business has a fifty day moving average price of $32.62 and a 200-day moving average price of $31.43.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. 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 earned $0.77 earnings per share. Equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The business 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 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 5.7%. Brookfield Infrastructure Partners's payout ratio is currently 3,440.00%.

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.