Summerhill Capital Management lnc. Reduces Stock Holdings in Brookfield Infrastructure Partners LP (NYSE:BIP)

Summerhill Capital Management lnc. cut its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 26.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,105 shares of the utilities provider’s stock after selling 83,057 shares during the quarter. Brookfield Infrastructure Partners comprises approximately 9.4% of Summerhill Capital Management lnc.’s holdings, making the stock its 4th biggest position. Summerhill Capital Management lnc. owned approximately 0.05% of Brookfield Infrastructure Partners worth $7,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. raised its stake in Brookfield Infrastructure Partners by 9.4% in the first quarter. Oppenheimer & Co. Inc. now owns 45,554 shares of the utilities provider’s stock valued at $1,357,000 after buying an additional 3,897 shares during the period. Canton Hathaway LLC bought a new position in Brookfield Infrastructure Partners during the first quarter worth $487,000. Wealth Enhancement Advisory Services LLC boosted its position in Brookfield Infrastructure Partners by 28.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,102 shares of the utilities provider’s stock worth $629,000 after purchasing an additional 4,667 shares during the period. SG Americas Securities LLC bought a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at about $320,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Brookfield Infrastructure Partners by 565.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider’s stock worth $68,000 after buying an additional 1,906 shares during the last quarter. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP opened at $33.14 on Wednesday. The company has a market cap of $15.39 billion, a price-to-earnings ratio of -1,655.97 and a beta of 1.09. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.77. The stock has a fifty day moving average price of $31.79 and a 200-day moving average price of $31.38.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The business had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $2 billion. Brookfield Infrastructure Partners had a net margin of 1.41% and a return on equity of 1.04%. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently -8,600.00%.

Analyst Ratings Changes

Several research firms have weighed in on BIP. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Citigroup lowered their target price on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has an average rating of “Buy” and a consensus target price of $41.67.

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.