Baskin Financial Services Inc. Sells 11,798 Shares of Brookfield Infrastructure Partners LP $BIP

Baskin Financial Services Inc. lowered its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 325,946 shares of the utilities provider’s stock after selling 11,798 shares during the period. Baskin Financial Services Inc. owned about 0.07% of Brookfield Infrastructure Partners worth $10,918,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BIP. CCLA Investment Management raised its stake in Brookfield Infrastructure Partners by 33.5% during the first quarter. CCLA Investment Management now owns 5,795,677 shares of the utilities provider’s stock worth $172,537,000 after buying an additional 1,453,772 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Brookfield Infrastructure Partners by 713.3% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,655,916 shares of the utilities provider’s stock worth $49,270,000 after buying an additional 1,452,320 shares during the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Infrastructure Partners by 3.5% during the first quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider’s stock worth $822,832,000 after buying an additional 945,462 shares during the last quarter. SCS Capital Management LLC bought a new position in Brookfield Infrastructure Partners during the first quarter worth $24,786,000. Finally, AGF Management Ltd. raised its stake in Brookfield Infrastructure Partners by 18.6% during the first quarter. AGF Management Ltd. now owns 2,722,101 shares of the utilities provider’s stock worth $80,980,000 after buying an additional 426,248 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 1.5%

Shares of NYSE BIP opened at $34.07 on Friday. The stock has a market capitalization of $15.79 billion, a P/E ratio of 681.54 and a beta of 1.16. The company has a 50-day moving average price of $31.38 and a 200-day moving average price of $31.46. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 3,440.00%.

Wall Street Analysts Forecast Growth

BIP has been the subject of a number of analyst reports. National Bank Financial raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research note on Wednesday. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. National Bankshares set a $35.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Jefferies Financial Group started coverage on shares of Brookfield Infrastructure Partners in a report on Friday, August 29th. They issued a “buy” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average target price of $40.14.

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.