DORCHESTER WEALTH MANAGEMENT Co Sells 11,350 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

DORCHESTER WEALTH MANAGEMENT Co lowered its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 30.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,780 shares of the utilities provider’s stock after selling 11,350 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Brookfield Infrastructure Partners were worth $903,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in Brookfield Infrastructure Partners in the first quarter worth approximately $4,919,000. Forge First Asset Management Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 92.5% during the 1st quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider’s stock valued at $6,286,000 after buying an additional 96,890 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Brookfield Infrastructure Partners by 46.4% in the 1st quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider’s stock worth $3,029,000 after buying an additional 30,737 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of Brookfield Infrastructure Partners in the first quarter worth $1,913,000. Finally, Inspire Investing LLC purchased a new stake in Brookfield Infrastructure Partners during the third quarter valued at $894,000. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP traded up $0.11 during mid-day trading on Thursday, reaching $35.23. The stock had a trading volume of 43,134 shares, compared to its average volume of 435,131. The company has a market cap of $16.34 billion, a P/E ratio of 113.29 and a beta of 1.06. The business’s 50 day moving average price is $33.38 and its 200 day moving average price is $30.54. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a 1 year low of $21.03 and a 1 year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the company earned $0.72 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. Research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.405 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.60%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

Analyst Ratings Changes

BIP has been the topic of several recent research reports. 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 shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.29.

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.