Mackenzie Financial Corp Sells 980,443 Shares of Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• Mackenzie Financial Corp decreased its stake in Brookfield Infrastructure Partners LP by 11.2%, selling 980,443 shares, and now holds 7,804,066 shares valued at approximately $232.15 million.
• Brookfield Infrastructure Partners recently announced a quarterly dividend of $0.43 per share, resulting in an annualized dividend of $1.72 with a yield of 5.38%.
• Analysts have given Brookfield Infrastructure Partners a consensus price target of $41.67, with varied ratings from "sell" to "strong buy" among brokerage reports.

Mackenzie Financial Corp trimmed its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,804,066 shares of the utilities provider's stock after selling 980,443 shares during the period. Mackenzie Financial Corp owned about 1.68% of Brookfield Infrastructure Partners worth $232,153,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Brookfield Infrastructure Partners by 3.5% during the first quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after acquiring an additional 945,462 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Brookfield Infrastructure Partners during the 4th quarter valued at $22,033,000. Guardian Capital LP purchased a new position in Brookfield Infrastructure Partners in the 4th quarter worth $21,099,000. Scotia Capital Inc. lifted its stake in Brookfield Infrastructure Partners by 2.7% in the fourth quarter. Scotia Capital Inc. now owns 6,432,381 shares of the utilities provider's stock worth $202,492,000 after purchasing an additional 171,748 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in Brookfield Infrastructure Partners by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,492,480 shares of the utilities provider's stock worth $46,978,000 after purchasing an additional 94,103 shares during the last quarter. Institutional investors own 57.92% of the company's stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE:BIP opened at $31.95 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $32.98 and a 200-day moving average price of $31.47. The company has a market cap of $14.84 billion, a price-to-earnings ratio of -1,596.60 and a beta of 1.08. Brookfield Infrastructure Partners LP has a 12 month low of $25.72 and a 12 month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.04% and a net margin of 1.41%. The business had revenue of $5.39 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Friday, May 30th. Brookfield Infrastructure Partners's payout ratio is -8,600.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BIP. Citigroup reduced their price objective on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.67.

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.

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