Brookfield Infrastructure Partners L.P. (NYSE:BIP) Stake Decreased by Nexus Investment Management ULC

Nexus Investment Management ULC decreased its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,185,284 shares of the utilities provider’s stock after selling 34,920 shares during the period. Brookfield Infrastructure Partners makes up about 4.1% of Nexus Investment Management ULC’s investment portfolio, making the stock its 5th largest position. Nexus Investment Management ULC’s holdings in Brookfield Infrastructure Partners were worth $41,653,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new position in Brookfield Infrastructure Partners in the first quarter valued at approximately $4,919,000. Forge First Asset Management Inc. raised its stake in shares of Brookfield Infrastructure Partners by 92.5% during the first quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider’s stock valued at $6,286,000 after purchasing an additional 96,890 shares during the period. Coronation Fund Managers Ltd. lifted its position in shares of Brookfield Infrastructure Partners by 46.4% during the first quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider’s stock worth $3,029,000 after purchasing an additional 30,737 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Brookfield Infrastructure Partners during the first quarter worth $1,913,000. Finally, AGF Management Ltd. boosted its stake in shares of Brookfield Infrastructure Partners by 26.1% in the second quarter. AGF Management Ltd. now owns 3,204,547 shares of the utilities provider’s stock valued at $88,027,000 after purchasing an additional 663,726 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Up 0.1 %

NYSE:BIP opened at $34.14 on Wednesday. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 110.13 and a beta of 1.06. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $35.48. The stock has a 50-day simple moving average of $32.68 and a 200 day simple moving average of $30.27. 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 posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.405 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 4.75%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of 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 research note on Friday, August 2nd. Finally, Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.