Bank of Montreal Can Decreases Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Bank of Montreal Can lessened its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,569,329 shares of the utilities provider’s stock after selling 97,359 shares during the period. Bank of Montreal Can owned 6.16% of Brookfield Infrastructure Partners worth $808,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners in the fourth quarter valued at $31,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners in the 2nd quarter worth about $31,000. Clear Point Advisors Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter valued at about $33,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Brookfield Infrastructure Partners in the 1st quarter valued at about $39,000. Finally, Park Place Capital Corp purchased a new position in Brookfield Infrastructure Partners in the second quarter worth about $41,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

BIP opened at $33.79 on Monday. The business has a fifty day moving average of $31.54 and a 200 day moving average of $29.74. The stock has a market cap of $15.67 billion, a P/E ratio of 109.00 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $33.98.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80). The business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Cibc World Mkts upgraded Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.88.

About Brookfield Infrastructure Partners

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.