CIBC Asset Management Inc Sells 187,974 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CIBC Asset Management Inc lowered its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,925,631 shares of the utilities provider’s stock after selling 187,974 shares during the quarter. CIBC Asset Management Inc’s holdings in Brookfield Infrastructure Partners were worth $190,124,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Brookfield Infrastructure Partners in the 4th quarter valued at approximately $1,946,000. CWM LLC grew its stake in shares of Brookfield Infrastructure Partners by 33.7% in the fourth quarter. CWM LLC now owns 2,986 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 753 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Brookfield Infrastructure Partners by 8.4% in the fourth quarter. Russell Investments Group Ltd. now owns 251,684 shares of the utilities provider’s stock valued at $7,971,000 after purchasing an additional 19,398 shares during the period. Apollon Wealth Management LLC raised its position in Brookfield Infrastructure Partners by 106.4% during the 4th quarter. Apollon Wealth Management LLC now owns 23,105 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 11,911 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Brookfield Infrastructure Partners during the 4th quarter worth about $30,000. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Trading Down 1.1 %

Shares of BIP stock traded down $0.35 during trading hours on Monday, hitting $32.15. 508,000 shares of the company were exchanged, compared to its average volume of 464,055. The company has a 50 day simple moving average of $30.37 and a two-hundred day simple moving average of $29.49. The firm has a market cap of $14.91 billion, a P/E ratio of 103.71 and a beta of 1.03. 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 L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $33.23.

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). Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.405 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 5.04%. Brookfield Infrastructure Partners’s payout ratio is currently 522.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BIP. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Friday. Cibc World Mkts upgraded shares of 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, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.56.

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.