Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Purchased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 101.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,587,548 shares of the utilities provider’s stock after purchasing an additional 797,649 shares during the period. Brookfield Infrastructure Partners makes up 2.5% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 16th biggest position. Dixon Mitchell Investment Counsel Inc. owned approximately 0.34% of Brookfield Infrastructure Partners worth $55,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of Brookfield Infrastructure Partners by 8.9% during the 1st quarter. Capital World Investors now owns 38,365,956 shares of the utilities provider’s stock valued at $1,198,095,000 after buying an additional 3,141,038 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Infrastructure Partners by 7.1% in the second quarter. Principal Financial Group Inc. now owns 23,193,050 shares of the utilities provider’s stock valued at $636,417,000 after acquiring an additional 1,540,223 shares during the period. The Manufacturers Life Insurance Company boosted its position in Brookfield Infrastructure Partners by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,147,654 shares of the utilities provider’s stock worth $168,680,000 after purchasing an additional 257,587 shares in the last quarter. CCLA Investment Management grew its stake in shares of Brookfield Infrastructure Partners by 35.0% during the 2nd quarter. CCLA Investment Management now owns 4,341,905 shares of the utilities provider’s stock worth $119,180,000 after purchasing an additional 1,125,964 shares during the period. Finally, Select Equity Group L.P. grew its stake in shares of Brookfield Infrastructure Partners by 29.6% during the 2nd quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock worth $115,326,000 after purchasing an additional 960,120 shares during the period. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Down 0.4 %

Shares of BIP opened at $36.28 on Friday. The stock has a 50 day moving average price of $33.05 and a 200 day moving average price of $30.39. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $36.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 117.03 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.80). The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. Brookfield Infrastructure Partners’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 522.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BIP. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Finally, Jefferies Financial Group raised their target price on Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.29.

About Brookfield Infrastructure Partners

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.