Dixon Mitchell Investment Counsel Inc. Decreases Stake in Brookfield Infrastructure Partners LP $BIP

Dixon Mitchell Investment Counsel Inc. reduced its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,448,770 shares of the utilities provider’s stock after selling 52,594 shares during the period. Brookfield Infrastructure Partners makes up 2.8% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 14th biggest position. Dixon Mitchell Investment Counsel Inc. owned 0.53% of Brookfield Infrastructure Partners worth $85,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIP. JCIC Asset Management Inc. raised its stake in Brookfield Infrastructure Partners by 6.6% during the fourth quarter. JCIC Asset Management Inc. now owns 5,589 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 345 shares during the period. ProShare Advisors LLC raised its stake in Brookfield Infrastructure Partners by 1.6% during the third quarter. ProShare Advisors LLC now owns 25,357 shares of the utilities provider’s stock worth $834,000 after purchasing an additional 390 shares during the period. PNC Financial Services Group Inc. raised its stake in Brookfield Infrastructure Partners by 0.6% during the third quarter. PNC Financial Services Group Inc. now owns 67,771 shares of the utilities provider’s stock worth $2,229,000 after purchasing an additional 400 shares during the period. Public Sector Pension Investment Board raised its stake in Brookfield Infrastructure Partners by 0.9% during the second quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider’s stock worth $1,494,000 after purchasing an additional 400 shares during the period. Finally, Empire Financial Management Company LLC raised its stake in Brookfield Infrastructure Partners by 1.0% during the fourth quarter. Empire Financial Management Company LLC now owns 40,792 shares of the utilities provider’s stock worth $1,417,000 after purchasing an additional 403 shares during the period. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Brookfield Infrastructure Partners stock opened at $38.31 on Friday. The company’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $36.68. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 58.04 and a beta of 1.05. Brookfield Infrastructure Partners LP has a 1 year low of $29.63 and a 1 year high of $40.32. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.64 and a current ratio of 0.68.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.62. The firm had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Brookfield Infrastructure Partners had a net margin of 3.46% and a return on equity of 2.54%. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, equities research analysts expect that Brookfield Infrastructure Partners LP will post 3.59 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 4.8%. Brookfield Infrastructure Partners’s payout ratio is 275.76%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BIP shares. Morgan Stanley lifted their target price on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Weiss Ratings downgraded shares of Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Brookfield Infrastructure Partners in a research note on Tuesday, May 26th. Finally, National Bank Financial lifted their target price on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $44.63.

Insider Buying and Selling at Brookfield Infrastructure Partners

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant acquired 1,150 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $48.10 per share, for a total transaction of $55,315.00. Following the completion of the acquisition, the chief financial officer owned 2,150 shares of the company’s stock, valued at approximately $103,415. This trade represents a 115.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Brookfield Infrastructure Partners 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.