Intact Investment Management Inc. Sells 103,890 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

Intact Investment Management Inc. lessened its position in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,642,084 shares of the utilities provider's stock after selling 103,890 shares during the quarter. Brookfield Infrastructure Partners comprises about 1.7% of Intact Investment Management Inc.'s investment portfolio, making the stock its 16th biggest position. Intact Investment Management Inc. owned about 0.35% of Brookfield Infrastructure Partners worth $48,857,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BIP. Allworth Financial LP raised its holdings in Brookfield Infrastructure Partners by 53.8% in the 4th quarter. Allworth Financial LP now owns 6,861 shares of the utilities provider's stock worth $222,000 after acquiring an additional 2,399 shares during the period. Cumberland Partners Ltd bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth $228,000. Summerhill Capital Management lnc. raised its holdings in Brookfield Infrastructure Partners by 2.9% in the 4th quarter. Summerhill Capital Management lnc. now owns 318,162 shares of the utilities provider's stock worth $10,114,000 after acquiring an additional 8,913 shares during the period. Compass Planning Associates Inc bought a new position in Brookfield Infrastructure Partners in the 4th quarter worth $28,000. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Brookfield Infrastructure Partners by 40.6% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,245 shares of the utilities provider's stock worth $1,152,000 after acquiring an additional 10,465 shares during the period. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP opened at $32.53 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.77 and a quick ratio of 0.73. The company's fifty day moving average is $31.62 and its two-hundred day moving average is $31.43. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of -1,625.54 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a net margin of 1.41% and a return on equity of 1.04%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business earned $0.78 EPS. Equities research 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, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.72 annualized dividend and a dividend yield of 5.29%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently -8,600.00%.

Wall Street Analyst Weigh In

BIP has been the topic of several research analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Citigroup decreased their price target on shares of Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners 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.

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