Dixon Mitchell Investment Counsel Inc. Grows Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Dixon Mitchell Investment Counsel Inc. grew its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766,343 shares of the utilities provider’s stock after purchasing an additional 657 shares during the period. Dixon Mitchell Investment Counsel Inc. owned approximately 0.17% of Brookfield Infrastructure Partners worth $23,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new position in shares of Brookfield Infrastructure Partners during the 4th quarter valued at about $30,000. Heritage Wealth Advisors purchased a new position in shares of Brookfield Infrastructure Partners during the fourth quarter worth $31,000. Bromfield Sneider Wealth Advisors purchased a new stake in Brookfield Infrastructure Partners during the first quarter worth about $39,000. Tower Research Capital LLC TRC lifted its holdings in Brookfield Infrastructure Partners by 199.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,712 shares of the utilities provider’s stock worth $54,000 after buying an additional 1,141 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Brookfield Infrastructure Partners during the 4th quarter worth $59,000. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Performance

BIP traded up $0.79 on Tuesday, hitting $27.93. 421,642 shares of the company were exchanged, compared to its average volume of 486,873. The business’s fifty day moving average is $28.72 and its 200 day moving average is $29.54. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $37.15. The firm has a market capitalization of $12.96 billion, a P/E ratio of 90.10 and a beta of 1.04.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.68). The firm had revenue of $5.19 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. Analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIP. Jefferies Financial Group reduced their price objective on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Finally, BMO Capital Markets dropped their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

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.