Guardian Partners Inc. Sells 13,747 Shares of Brookfield Infrastructure Partners LP $BIP

Key Points

• Guardian Partners Inc. reduced its stake in Brookfield Infrastructure Partners LP by 13.9%, selling 13,747 shares to hold a total of 85,250 shares worth approximately $2.4 million.
• Brookfield Infrastructure Partners recently announced a quarterly dividend of $0.43 per share, translating to a 5.6% dividend yield and representing a substantial annualized dividend of $1.72.
• Analysts have mixed views on the stock with ratings ranging from a "sell" to a "buy", with a consensus target price set at $41.00.

Guardian Partners Inc. reduced its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 13.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 85,250 shares of the utilities provider's stock after selling 13,747 shares during the quarter. Guardian Partners Inc.'s holdings in Brookfield Infrastructure Partners were worth $2,407,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Brookfield Infrastructure Partners by 9.2% during the first 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 last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 0.7% during the first 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 last quarter. Tacita Capital Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 0.5% during the first quarter. Tacita Capital Inc now owns 142,604 shares of the utilities provider's stock worth $4,244,000 after buying an additional 767 shares during the last quarter. MRP Capital Investments LLC lifted its holdings in shares of Brookfield Infrastructure Partners by 5.4% during the first quarter. MRP Capital Investments LLC now owns 20,825 shares of the utilities provider's stock worth $620,000 after buying an additional 1,075 shares during the last quarter. Finally, North Capital Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter worth approximately $35,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BIP shares. Wall Street Zen lowered Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Royal Bank Of Canada set a $40.00 price target on Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Finally, Jefferies Financial Group began coverage on Brookfield Infrastructure Partners in a research note on Friday, August 29th. They issued a "buy" rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $41.00.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP traded down $0.35 during trading hours on Friday, reaching $30.65. The company had a trading volume of 409,406 shares, compared to its average volume of 518,195. The stock has a 50-day moving average of $31.29 and a two-hundred day moving average of $31.05. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.50. The firm has a market capitalization of $14.21 billion, a PE ratio of 613.16 and a beta of 1.10. 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 (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced 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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $0.77 earnings per share. The business's revenue was up 5.7% on a year-over-year basis. Analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Dividend Announcement

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

About Brookfield Infrastructure Partners

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.