Mackenzie Financial Corp Lowers Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Mackenzie Financial Corp decreased its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 11.2% during the first quarter, Holdings Channel reports. The fund owned 7,804,066 shares of the utilities provider’s stock after selling 980,443 shares during the period. Mackenzie Financial Corp’s holdings in Brookfield Infrastructure Partners were worth $232,153,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BIP. LPL Financial LLC boosted its position in shares of Brookfield Infrastructure Partners by 8.5% during the fourth quarter. LPL Financial LLC now owns 159,094 shares of the utilities provider’s stock valued at $5,058,000 after purchasing an additional 12,492 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Infrastructure Partners by 35.0% during the 4th quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider’s stock valued at $950,000 after buying an additional 7,742 shares in the last quarter. Blair William & Co. IL grew its position in shares of Brookfield Infrastructure Partners by 6.8% in the 4th quarter. Blair William & Co. IL now owns 34,870 shares of the utilities provider’s stock worth $1,109,000 after buying an additional 2,229 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Brookfield Infrastructure Partners by 47.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 92,773 shares of the utilities provider’s stock worth $2,945,000 after acquiring an additional 29,962 shares in the last quarter. Finally, Summit Financial LLC lifted its position in Brookfield Infrastructure Partners by 14.7% during the 4th quarter. Summit Financial LLC now owns 10,212 shares of the utilities provider’s stock valued at $325,000 after acquiring an additional 1,311 shares during the period. Institutional investors own 57.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BIP shares. Wall Street Zen lowered shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th. Citigroup dropped their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Brookfield Infrastructure Partners Stock Performance

Shares of Brookfield Infrastructure Partners stock opened at $31.95 on Monday. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $36.50. The firm’s 50-day moving average is $32.98 and its 200 day moving average is $31.47. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of -1,596.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.77 and a quick ratio of 0.73.

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

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, May 30th. This represents a $1.72 annualized dividend and a yield of 5.38%. Brookfield Infrastructure Partners’s dividend payout ratio is -8,600.00%.

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.