First Manhattan CO. LLC. Reduces Stock Position in Brookfield Infrastructure Partners LP $BIP

Key Points

• First Manhattan CO. LLC. reduced its stake in Brookfield Infrastructure Partners LP by 4.9%, now owning 1,935,136 shares valued at approximately $57.65 million.
• Brookfield Infrastructure Partners reported earnings of $0.81 per share for the last quarter, missing estimates by $0.01, with revenue increasing 5.7% year-over-year to $5.43 billion.
• The company declared a quarterly dividend of $0.43 per share, translating to an annualized yield of 5.5% and a remarkably high dividend payout ratio of 3,440.00%.

First Manhattan CO. LLC. lessened its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,935,136 shares of the utilities provider's stock after selling 100,130 shares during the period. First Manhattan CO. LLC. owned 0.42% of Brookfield Infrastructure Partners worth $57,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at about $97,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 0.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 715,827 shares of the utilities provider's stock worth $21,324,000 after buying an additional 5,000 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider's stock worth $115,000 after buying an additional 325 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 713.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider's stock worth $49,270,000 after buying an additional 1,452,320 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 66,854 shares of the utilities provider's stock worth $1,992,000 after buying an additional 479 shares during the period. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Up 0.1%

NYSE:BIP traded up $0.04 during mid-day trading on Friday, hitting $30.50. 345,076 shares of the company's stock traded hands, compared to its average volume of 527,768. The company has a fifty day moving average of $31.58 and a 200 day moving average of $31.13. Brookfield Infrastructure Partners LP has a twelve month low of $25.72 and a twelve month high of $36.50. The company has a market capitalization of $14.14 billion, a P/E ratio of 610.20 and a beta of 1.10. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its earnings results 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 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 analyst estimates of $1.95 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The company's quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a 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 Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a "buy" rating and a $35.00 target price for the company. Wall Street Zen lowered Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Saturday. 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 report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Brookfield Infrastructure Partners presently has an average rating of "Buy" and a consensus target price 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.