Cibc World Market Inc. Sells 487,658 Shares of Brookfield Infrastructure Partners LP $BIP

Cibc World Market Inc. trimmed its holdings in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,663,634 shares of the utilities provider’s stock after selling 487,658 shares during the quarter. Cibc World Market Inc. owned about 1.44% of Brookfield Infrastructure Partners worth $219,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Truist Financial Corp grew its holdings in Brookfield Infrastructure Partners by 1.3% in the second quarter. Truist Financial Corp now owns 23,616 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 314 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Brookfield Infrastructure Partners by 17.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,160 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 325 shares in the last quarter. Huntleigh Advisors Inc. boosted its position in shares of Brookfield Infrastructure Partners by 3.3% in the 3rd quarter. Huntleigh Advisors Inc. now owns 10,974 shares of the utilities provider’s stock worth $361,000 after purchasing an additional 354 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Brookfield Infrastructure Partners by 1.6% in the 3rd quarter. ProShare Advisors LLC now owns 25,357 shares of the utilities provider’s stock worth $834,000 after buying an additional 390 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Brookfield Infrastructure Partners by 0.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider’s stock worth $1,494,000 after buying an additional 400 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

Shares of NYSE:BIP opened at $38.90 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.81 and a current ratio of 0.08. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 43.22 and a beta of 1.12. The business has a 50-day simple moving average of $35.22 and a two-hundred day simple moving average of $33.68. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $39.07.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings results on Thursday, January 29th. The utilities provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.42). Brookfield Infrastructure Partners had a return on equity of 3.22% and a net margin of 4.40%.The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.455 per share. The ex-dividend date is Friday, February 27th. This represents a $1.82 dividend on an annualized basis and a yield of 4.7%. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 191.11%.

Wall Street Analyst Weigh In

BIP has been the subject of a number of recent research reports. Scotiabank reiterated an “outperform” rating and set a $44.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, January 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Brookfield Infrastructure Partners in a research report on Friday, January 30th. Morgan Stanley set a $45.00 price target on shares of Brookfield Infrastructure Partners in a research note on Wednesday, January 28th. National Bankshares increased their price objective on shares of Brookfield Infrastructure Partners from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Brookfield Infrastructure Partners in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.13.

About Brookfield Infrastructure Partners

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.