Brookfield Infrastructure Partners LP $BIP Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Brookfield Infrastructure Partners LP by 54.9%, selling 95,949 shares, and now holds 78,863 shares valued at approximately $2.35 million.
• Brookfield Infrastructure Partners has announced a quarterly dividend of $0.43 per share, with a yield of 5.6%, to be paid on September 29th.
• Despite missing earnings estimates with an EPS of $0.81, the company reported a revenue increase to $5.43 billion, exceeding analyst expectations.

Russell Investments Group Ltd. lessened its stake in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 54.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,863 shares of the utilities provider's stock after selling 95,949 shares during the period. Russell Investments Group Ltd.'s holdings in Brookfield Infrastructure Partners were worth $2,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BIP. CCLA Investment Management raised its holdings in shares of Brookfield Infrastructure Partners by 33.5% during the 1st quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider's stock worth $172,537,000 after acquiring an additional 1,453,772 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 3.5% during the 1st 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 during the period. Guardian Capital LP purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter valued at about $21,099,000. Mackenzie Financial Corp raised its holdings in Brookfield Infrastructure Partners by 8.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock valued at $278,858,000 after buying an additional 650,892 shares during the period. Finally, AGF Management Ltd. raised its holdings in Brookfield Infrastructure Partners by 18.6% in the 1st quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider's stock valued at $80,980,000 after buying an additional 426,248 shares during the period. Hedge funds and other institutional investors own 57.92% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BIP shares. Royal Bank Of Canada set a $40.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an "outperform" rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a report on Friday. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of "Buy" and an average price target of $41.00.

Brookfield Infrastructure Partners Trading Down 1.1%

NYSE:BIP traded down $0.37 on Friday, reaching $31.45. 529,459 shares of the company's stock were exchanged, compared to its average volume of 548,727. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 629.03 and a beta of 1.09. The business has a fifty day moving average of $31.82 and a 200-day moving average of $31.20. Brookfield Infrastructure Partners LP has a 52-week low of $25.72 and a 52-week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The business had revenue of $5.43 billion for the quarter, compared to analysts' expectations of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. As a group, analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.5%. Brookfield Infrastructure Partners's payout ratio is currently 3,440.00%.

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.