Select Equity Group L.P. Trims Stake in Brookfield Infrastructure Partners LP $BIP

Key Points

• Select Equity Group L.P. has decreased its stake in Brookfield Infrastructure Partners LP by 48.3% in the first quarter, now owning approximately 0.57% of the company, valued at around $78.9 million.
• Analysts have mixed ratings for Brookfield Infrastructure Partners, with price targets ranging from $35.00 to $40.00, while the stock currently has an average rating of "Buy" and a target price of $41.00.
• The firm has declared a quarterly dividend of $0.43, representing an annualized dividend yield of 5.6%, with a notably high dividend payout ratio of 3,440.00%.

Select Equity Group L.P. decreased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 48.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,649,491 shares of the utilities provider's stock after selling 2,474,800 shares during the quarter. Select Equity Group L.P. owned 0.57% of Brookfield Infrastructure Partners worth $78,928,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State of Wyoming bought a new position in Brookfield Infrastructure Partners in the 1st quarter valued at about $97,000. Cbre Investment Management Listed Real Assets LLC lifted its position in Brookfield Infrastructure Partners by 0.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 715,827 shares of the utilities provider's stock valued at $21,324,000 after acquiring an additional 5,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider's stock valued at $115,000 after acquiring an additional 325 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Brookfield Infrastructure Partners by 713.3% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider's stock valued at $49,270,000 after acquiring an additional 1,452,320 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in Brookfield Infrastructure Partners by 0.7% in the 1st quarter. Kestra Advisory Services LLC now owns 66,854 shares of the utilities provider's stock valued at $1,992,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 57.92% of the company's stock.

Wall Street Analysts Forecast Growth

BIP has been the topic of several recent analyst reports. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Jefferies Financial Group initiated coverage on shares of Brookfield Infrastructure Partners in a research report on Friday, August 29th. They set a "buy" rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of "Buy" and a consensus target price of $41.00.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock traded down $0.53 during mid-day trading on Tuesday, reaching $30.55. The company's stock had a trading volume of 757,069 shares, compared to its average volume of 505,441. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.50. The company has a market capitalization of $14.16 billion, a P/E ratio of 611.12 and a beta of 1.10. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. The firm's fifty day moving average price is $31.47 and its two-hundred day moving average price is $31.08.

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

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure Partners's payout ratio is 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.