MAI Capital Management Sells 5,609 Shares of Brookfield Infrastructure Partners LP $BIP

MAI Capital Management trimmed its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,884 shares of the utilities provider’s stock after selling 5,609 shares during the quarter. MAI Capital Management’s holdings in Brookfield Infrastructure Partners were worth $4,351,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Addenda Capital Inc. lifted its position in shares of Brookfield Infrastructure Partners by 13.5% during the second quarter. Addenda Capital Inc. now owns 704,591 shares of the utilities provider’s stock worth $23,604,000 after purchasing an additional 83,770 shares during the last quarter. Value Partners Investments Inc. increased its stake in Brookfield Infrastructure Partners by 99.5% in the 2nd quarter. Value Partners Investments Inc. now owns 47,294 shares of the utilities provider’s stock worth $1,581,000 after buying an additional 23,582 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Brookfield Infrastructure Partners by 18.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 89,377 shares of the utilities provider’s stock valued at $2,663,000 after buying an additional 13,788 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Brookfield Infrastructure Partners by 248.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,807 shares of the utilities provider’s stock valued at $262,000 after buying an additional 5,564 shares during the period. Finally, BROOKFIELD Corp ON boosted its position in Brookfield Infrastructure Partners by 3.5% in the 1st quarter. BROOKFIELD Corp ON now owns 4,686,497 shares of the utilities provider’s stock valued at $139,611,000 after buying an additional 158,881 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

Shares of NYSE BIP opened at $35.22 on Friday. The stock has a market cap of $16.32 billion, a price-to-earnings ratio of 704.54 and a beta of 1.14. Brookfield Infrastructure Partners LP has a 12 month low of $25.72 and a 12 month high of $36.10. The company has a 50 day simple moving average of $33.89 and a two-hundred day simple moving average of $32.71. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.42). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.43 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 256.72%.

Analyst Ratings Changes

BIP has been the topic of a number of research reports. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Jefferies Financial Group set a $37.00 target price on Brookfield Infrastructure Partners and gave the company a “hold” rating in a research report on Wednesday, October 29th. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and an average target price of $40.43.

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.