Brookfield Infrastructure Partners LP $BIP Shares Sold by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. lowered its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,448,770 shares of the utilities provider’s stock after selling 52,594 shares during the quarter. Brookfield Infrastructure Partners makes up approximately 2.8% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 14th biggest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Brookfield Infrastructure Partners were worth $85,231,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Acumen Wealth Advisors LLC acquired a new position in Brookfield Infrastructure Partners during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its holdings in Brookfield Infrastructure Partners by 225.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 975 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 675 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Brookfield Infrastructure Partners during the 4th quarter worth approximately $42,000. Assetmark Inc. grew its holdings in Brookfield Infrastructure Partners by 544.1% during the 4th quarter. Assetmark Inc. now owns 1,256 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Brookfield Infrastructure Partners during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Insider Activity

In related news, CFO David Tyler Krant bought 1,150 shares of the stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $48.10 per share, for a total transaction of $55,315.00. Following the acquisition, the chief financial officer owned 2,150 shares in the company, valued at approximately $103,415. This represents a 115.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Brookfield Infrastructure Partners Trading Down 0.2%

Shares of Brookfield Infrastructure Partners stock opened at $38.31 on Friday. The company has a fifty day simple moving average of $37.55 and a 200-day simple moving average of $36.68. Brookfield Infrastructure Partners LP has a 12-month low of $29.63 and a 12-month high of $40.32. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.74. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 58.04 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.62. Brookfield Infrastructure Partners had a net margin of 3.46% and a return on equity of 2.54%. The business had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted $0.82 EPS. On average, equities analysts forecast that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a $0.455 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.82 annualized dividend and a dividend yield of 4.8%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 275.76%.

Wall Street Analyst Weigh In

BIP has been the subject of several analyst reports. Weiss Ratings cut shares of Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $45.00 price target (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Morgan Stanley boosted their price target on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, National Bank Financial boosted their price target on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.63.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.