Mackenzie Financial Corp Has $174.52 Million Stake in Brookfield Infrastructure Partners LP $BIP

Key Points

• Mackenzie Financial Corp trimmed its stake in Brookfield Infrastructure Partners by 22.8% in Q3, selling 1,561,765 shares and now holds 5,297,211 shares (about 1.14%) valued at $174.52 million.
• Brookfield raised its quarterly dividend to $0.455 (annualized $1.82) for a 4.8% yield, although the payout ratio is very high at 202.22%, which may signal sustainability risk.
• The company missed Q3 EPS (reported $0.45 vs. $0.87 expected) despite revenue rising 5.8% year-over-year, and analysts carry a consensus rating of "Moderate Buy" with an average target price of $42.13.

Mackenzie Financial Corp trimmed its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 22.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,297,211 shares of the utilities provider's stock after selling 1,561,765 shares during the quarter. Mackenzie Financial Corp owned about 1.14% of Brookfield Infrastructure Partners worth $174,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in shares of Brookfield Infrastructure Partners by 3.4% in the third quarter. Bank of Montreal Can now owns 28,289,627 shares of the utilities provider's stock valued at $930,446,000 after acquiring an additional 926,167 shares in the last quarter. Rathbones Group PLC boosted its position in shares of Brookfield Infrastructure Partners by 230.4% in the third quarter. Rathbones Group PLC now owns 83,236 shares of the utilities provider's stock valued at $2,738,000 after acquiring an additional 58,044 shares during the period. Blair William & Co. IL increased its stake in Brookfield Infrastructure Partners by 1.1% in the 3rd quarter. Blair William & Co. IL now owns 72,692 shares of the utilities provider's stock worth $2,391,000 after acquiring an additional 779 shares during the last quarter. Chapman Financial Group LLC raised its position in shares of Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Chapman Financial Group LLC now owns 27,494 shares of the utilities provider's stock valued at $904,000 after buying an additional 1,391 shares in the last quarter. Finally, JT Stratford LLC grew its stake in shares of Brookfield Infrastructure Partners by 6.2% during the third quarter. JT Stratford LLC now owns 74,079 shares of the utilities provider's stock valued at $2,436,000 after buying an additional 4,342 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock opened at $37.96 on Wednesday. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $40.32. The stock's 50-day simple moving average is $36.70 and its 200-day simple moving average is $34.82. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.81 and a current ratio of 0.08. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 42.17 and a beta of 1.10.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings results on Thursday, January 29th. The utilities provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.42). Brookfield Infrastructure Partners had a net margin of 4.40% and a return on equity of 3.22%. The business had revenue of $6.30 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Brookfield Infrastructure Partners's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Brookfield Infrastructure Partners's previous quarterly dividend of $0.43. Brookfield Infrastructure Partners's payout ratio is presently 202.22%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Brookfield Infrastructure Partners in a research note on Monday, December 29th. TD Securities reaffirmed a "buy" rating and set a $57.00 price target (up from $55.00) on shares of Brookfield Infrastructure Partners in a report on Friday, January 30th. BMO Capital Markets reiterated an "outperform" rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Friday, January 30th. National Bank Financial upped their price target on shares of Brookfield Infrastructure Partners from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 17th. Finally, Scotiabank reiterated an "outperform" rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of "Moderate Buy" and an average target price of $42.13.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. NYSE: BIP is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company's utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.