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Scotia Capital Inc. Grows Holdings in Brookfield Infrastructure Partners LP (NYSE:BIP)

Brookfield Infrastructure Partners logo with Finance background

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.
  • Five stocks to consider instead of Brookfield Infrastructure Partners.

Scotia Capital Inc. grew its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,709,573 shares of the utilities provider's stock after buying an additional 277,192 shares during the quarter. Brookfield Infrastructure Partners accounts for about 1.1% of Scotia Capital Inc.'s investment portfolio, making the stock its 28th largest holding. Scotia Capital Inc. owned about 1.45% of Brookfield Infrastructure Partners worth $197,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BIP. North Capital Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at approximately $35,000. Parallel Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at approximately $45,000. Farther Finance Advisors LLC increased its position in Brookfield Infrastructure Partners by 565.6% in the first quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after buying an additional 1,906 shares during the period. Capital Analysts LLC increased its position in Brookfield Infrastructure Partners by 85.8% in the fourth quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after buying an additional 2,020 shares during the period. Finally, MGO One Seven LLC increased its position in Brookfield Infrastructure Partners by 5.5% in the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after buying an additional 372 shares during the period. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $31.12 on Friday. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 622.52 and a beta of 1.09. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.77. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.50. The stock's fifty day moving average is $32.84 and its 200-day moving average is $31.47.

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 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 analyst estimates of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm 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 is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 5.5%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is -8,600.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BIP shares. Citigroup dropped their target price on 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. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Get Our Latest Analysis on BIP

Brookfield Infrastructure Partners Company Profile

(Free Report)

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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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.

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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