BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 84.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,217 shares of the utilities provider’s stock after selling 3,413,328 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brookfield Infrastructure Partners were worth $17,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors increased its stake in shares of Brookfield Infrastructure Partners by 8.9% in the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock valued at $1,198,095,000 after purchasing an additional 3,141,038 shares in the last quarter. Principal Financial Group Inc. increased its stake in Brookfield Infrastructure Partners by 7.1% during the 2nd quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock worth $636,417,000 after buying an additional 1,540,223 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Brookfield Infrastructure Partners by 9.6% during the 4th quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after buying an additional 1,678,140 shares in the last quarter. CIBC Asset Management Inc increased its stake in Brookfield Infrastructure Partners by 20.0% during the 4th quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after buying an additional 1,112,217 shares in the last quarter. Finally, Scotia Capital Inc. increased its stake in Brookfield Infrastructure Partners by 4.1% during the 4th quarter. Scotia Capital Inc. now owns 5,858,382 shares of the utilities provider’s stock worth $184,385,000 after buying an additional 233,330 shares in the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Brookfield Infrastructure Partners Trading Up 0.4 %

BIP opened at $33.92 on Wednesday. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $34.28. The stock has a market capitalization of $15.73 billion, a PE ratio of 109.42 and a beta of 1.05. The business’s 50 day moving average price is $31.65 and its 200 day moving average price is $29.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81.

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

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure Partners’s payout ratio is 522.58%.

Brookfield Infrastructure Partners 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.