CCLA Investment Management Sells 1,905,754 Shares of Brookfield Infrastructure Partners LP $BIP

CCLA Investment Management trimmed its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 32.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,889,923 shares of the utilities provider’s stock after selling 1,905,754 shares during the quarter. Brookfield Infrastructure Partners comprises about 0.1% of CCLA Investment Management’s investment portfolio, making the stock its 24th largest position. CCLA Investment Management’s holdings in Brookfield Infrastructure Partners were worth $130,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIP. North Capital Inc. bought a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at about $35,000. SouthState Corp bought a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at about $37,000. Pandora Wealth Inc. bought a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at about $80,000. Harbour Investments Inc. raised its stake in shares of Brookfield Infrastructure Partners by 23.1% during the second quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 474 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Brookfield Infrastructure Partners during the first quarter valued at about $97,000. 57.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BIP has been the subject of several recent analyst reports. National Bankshares set a $35.00 price objective on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Friday, September 26th. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research report on Wednesday, August 27th. National Bank Financial upgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Wall Street Zen cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.14.

Brookfield Infrastructure Partners Price Performance

Shares of BIP opened at $34.17 on Monday. The stock has a market cap of $15.84 billion, a PE ratio of 683.52 and a beta of 1.16. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.85 and a current ratio of 0.88. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.30. The firm’s 50-day simple moving average is $32.25 and its two-hundred day simple moving average is $31.90.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.Brookfield Infrastructure Partners’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. Analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, August 29th. Brookfield Infrastructure Partners’s dividend payout ratio is 3,440.00%.

Brookfield Infrastructure Partners 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.