Scotia Capital Inc. Has $197.81 Million Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• Scotia Capital Inc. increased its holdings in Brookfield Infrastructure Partners LP by 4.3% during the first quarter, now owning approximately 6.71 million shares worth around $197.81 million.
• Brookfield Infrastructure Partners reported $0.81 EPS for the quarter, slightly missing analysts' expectations, while revenue rose by 5.7% year-over-year to $5.43 billion.
• The firm announced a quarterly dividend of $0.43 per share, yielding 5.5%, set to be paid on September 29th.

Scotia Capital Inc. increased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,709,573 shares of the utilities provider's stock after acquiring an additional 277,192 shares during the quarter. Brookfield Infrastructure Partners makes up about 1.1% of Scotia Capital Inc.'s holdings, making the stock its 28th biggest position. Scotia Capital Inc. owned 1.45% of Brookfield Infrastructure Partners worth $197,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC raised its holdings in Brookfield Infrastructure Partners by 8.5% in the fourth quarter. LPL Financial LLC now owns 159,094 shares of the utilities provider's stock valued at $5,058,000 after buying an additional 12,492 shares during the period. JPMorgan Chase & Co. grew its position in Brookfield Infrastructure Partners by 35.0% in the 4th quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider's stock worth $950,000 after purchasing an additional 7,742 shares during the last quarter. Geode Capital Management LLC grew its holdings in Brookfield Infrastructure Partners by 39.5% in the 4th quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider's stock worth $606,000 after buying an additional 5,398 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Brookfield Infrastructure Partners by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 75,589 shares of the utilities provider's stock worth $2,403,000 after buying an additional 1,300 shares in the last quarter. Finally, Rathbones Group PLC acquired a new stake in Brookfield Infrastructure Partners in the fourth quarter worth approximately $775,000. Hedge funds and other institutional investors own 57.92% of the company's stock.

Analyst Upgrades and Downgrades

BIP has been the subject of several research reports. Citigroup reduced their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Brookfield Infrastructure Partners has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Brookfield Infrastructure Partners Trading Down 0.6%

BIP traded down $0.20 on Thursday, hitting $30.72. The company had a trading volume of 123,582 shares, compared to its average volume of 510,234. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The firm has a market cap of $14.26 billion, a P/E ratio of 613.06 and a beta of 1.09. The company has a current ratio of 0.11, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The company's fifty day moving average price is $32.74 and its 200 day moving average price is $31.47.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.82 by ($0.01). The company 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 company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, equities analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's payout ratio is presently 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.