Scotia Capital Inc. Sells 20,417 Shares of Brookfield Infrastructure Partners LP (BIP)

Scotia Capital Inc. decreased its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 930,936 shares of the utilities provider’s stock after selling 20,417 shares during the period. Scotia Capital Inc. owned approximately 0.36% of Brookfield Infrastructure Partners worth $38,059,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bollard Group LLC raised its holdings in Brookfield Infrastructure Partners by 1.0% in the 2nd quarter. Bollard Group LLC now owns 3,681 shares of the utilities provider’s stock valued at $151,000 after acquiring an additional 38 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Brookfield Infrastructure Partners by 0.5% in the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 12,400 shares of the utilities provider’s stock valued at $507,000 after buying an additional 65 shares during the period. Citigroup Inc. grew its stake in shares of Brookfield Infrastructure Partners by 1.4% in the 2nd quarter. Citigroup Inc. now owns 7,102 shares of the utilities provider’s stock valued at $290,000 after buying an additional 100 shares during the period. M&T Bank Corp grew its stake in shares of Brookfield Infrastructure Partners by 1.4% in the 2nd quarter. M&T Bank Corp now owns 10,960 shares of the utilities provider’s stock valued at $449,000 after buying an additional 150 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Brookfield Infrastructure Partners by 5.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,407 shares of the utilities provider’s stock valued at $262,000 after buying an additional 335 shares during the period. Institutional investors own 33.54% of the company’s stock.

BIP has been the subject of several analyst reports. BMO Capital Markets initiated coverage on shares of Brookfield Infrastructure Partners in a research note on Monday, September 11th. They issued an “outperform” rating and a $48.00 price target for the company. Credit Suisse Group raised shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and increased their price target for the company from $40.00 to $44.00 in a research note on Friday, June 16th. TD Securities increased their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the company a “buy” rating in a research note on Monday, September 18th. BidaskClub raised shares of Brookfield Infrastructure Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 4th. Finally, Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Brookfield Infrastructure Partners presently has an average rating of “Buy” and an average price target of $49.44.

Brookfield Infrastructure Partners LP (NYSE:BIP) traded up 0.67% during trading on Tuesday, hitting $43.27. 158,001 shares of the company were exchanged. The company has a 50-day moving average of $43.16 and a 200-day moving average of $40.93. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of 95.10 and a beta of 1.08. Brookfield Infrastructure Partners LP has a 12 month low of $30.76 and a 12 month high of $44.91.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 3rd. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.86). Brookfield Infrastructure Partners had a net margin of 9.36% and a return on equity of 2.70%. The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $768.00 million. Analysts forecast that Brookfield Infrastructure Partners LP will post $1.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were issued a $0.435 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.74 dividend on an annualized basis and a yield of 4.05%. Brookfield Infrastructure Partners’s payout ratio is 370.22%.

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Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

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

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