Ewing Morris & Co. Investment Partners Ltd. Lowers Stake in Brookfield Infrastructure Partners LP $BIP

Key Points

• Ewing Morris & Co. Investment Partners Ltd. significantly reduced its stake in Brookfield Infrastructure Partners LP by selling 46,725 shares, bringing its total holdings to 11,676 shares worth approximately $348,000.
• Brookfield Infrastructure Partners recently reported earnings of $0.81 per share, slightly below analysts' expectations, with quarterly revenue reaching $5.43 billion, surpassing projections of $1.95 billion.
• The company has declared a quarterly dividend of $0.43 per share, translating to an annualized yield of 5.5%, with a substantial dividend payout ratio of 3,440.00%.

Ewing Morris & Co. Investment Partners Ltd. lowered its position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 80.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,676 shares of the utilities provider's stock after selling 46,725 shares during the quarter. Ewing Morris & Co. Investment Partners Ltd.'s holdings in Brookfield Infrastructure Partners were worth $348,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new position in Brookfield Infrastructure Partners during the first quarter worth about $35,000. SouthState Corp purchased a new position in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $37,000. Parallel Advisors LLC purchased a new position in Brookfield Infrastructure Partners in the first quarter valued at $45,000. Farther Finance Advisors LLC lifted its stake in Brookfield Infrastructure Partners by 565.6% in 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 during the last quarter. Finally, Pandora Wealth Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth $80,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP traded down $0.82 during mid-day trading on Wednesday, reaching $30.63. 843,094 shares of the company's stock were exchanged, compared to its average volume of 518,933. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The company has a 50-day simple moving average of $31.71 and a two-hundred day simple moving average of $31.17. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 9.80 and a beta of 1.10. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50.

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 the consensus estimate 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 return on equity of 1.15% and a net margin of 1.54%.The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio is currently 3,440.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Jefferies Financial Group initiated coverage on Brookfield Infrastructure Partners in a research note on Friday, August 29th. They set a "buy" rating and a $35.00 price objective for the company. Finally, Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $41.00.

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.