Brookfield Infrastructure Partners LP $BIP Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,297,211 shares of the utilities provider’s stock after selling 1,561,765 shares during the quarter. Mackenzie Financial Corp’s holdings in Brookfield Infrastructure Partners were worth $174,519,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BIP. Picton Mahoney Asset Management purchased a new position in Brookfield Infrastructure Partners during the second quarter worth about $46,203,000. Intact Investment Management Inc. increased its position in shares of Brookfield Infrastructure Partners by 72.9% during the 3rd quarter. Intact Investment Management Inc. now owns 2,365,634 shares of the utilities provider’s stock worth $77,962,000 after purchasing an additional 997,680 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Brookfield Infrastructure Partners by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 505,183 shares of the utilities provider’s stock valued at $16,615,000 after buying an additional 178,534 shares during the last quarter. Credit Industriel ET Commercial boosted its stake in Brookfield Infrastructure Partners by 582.7% during the third quarter. Credit Industriel ET Commercial now owns 174,940 shares of the utilities provider’s stock worth $5,754,000 after buying an additional 149,315 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in shares of Brookfield Infrastructure Partners by 46.7% during the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 2,503,764 shares of the utilities provider’s stock valued at $83,739,000 after acquiring an additional 797,429 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Up 2.9%

Shares of BIP stock opened at $37.96 on Wednesday. The firm’s 50 day moving average price is $36.70 and its two-hundred day moving average price is $34.82. The company has a quick ratio of 0.81, a current ratio of 0.08 and a debt-to-equity ratio of 1.68. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $40.32. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 42.17 and a beta of 1.10.

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

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 4.8%. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, February 27th. Brookfield Infrastructure Partners’s payout ratio is currently 202.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BIP. Morgan Stanley set a $45.00 price objective on shares of Brookfield Infrastructure Partners in a report on Wednesday, January 28th. National Bank Financial boosted their price target on shares of Brookfield Infrastructure Partners from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. TD Cowen reissued a “buy” rating on shares of Brookfield Infrastructure Partners in a research report on Friday, January 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Brookfield Infrastructure Partners in a research report on Monday, December 29th. Finally, TD Securities reaffirmed a “buy” rating and set a $57.00 price objective (up from $55.00) on shares of Brookfield Infrastructure Partners in a report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and an average price target 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.