Alps Advisors Inc. Trims Stake in Brookfield Infrastructure Partners L.P. (BIP)

Alps Advisors Inc. lessened its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 140,099 shares of the utilities provider’s stock after selling 12,184 shares during the period. Alps Advisors Inc.’s holdings in Brookfield Infrastructure Partners were worth $5,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bridges Investment Management Inc. acquired a new position in Brookfield Infrastructure Partners in the 2nd quarter valued at about $230,000. Morgan Stanley increased its position in Brookfield Infrastructure Partners by 4.8% in the 2nd quarter. Morgan Stanley now owns 1,435,361 shares of the utilities provider’s stock valued at $55,118,000 after acquiring an additional 65,383 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its position in Brookfield Infrastructure Partners by 109.3% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,097 shares of the utilities provider’s stock valued at $1,159,000 after acquiring an additional 15,197 shares during the period. Tocqueville Asset Management L.P. increased its position in Brookfield Infrastructure Partners by 36.3% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 14,105 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 3,755 shares during the period. Finally, Lake Street Advisors Group LLC increased its position in Brookfield Infrastructure Partners by 8.7% during the 2nd quarter. Lake Street Advisors Group LLC now owns 799,055 shares of the utilities provider’s stock worth $30,684,000 after purchasing an additional 64,005 shares during the period. Hedge funds and other institutional investors own 37.94% of the company’s stock.

Several equities analysts have issued reports on BIP shares. ValuEngine upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Credit Suisse Group upgraded Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $44.00 to $46.00 in a research report on Thursday, July 5th. Citigroup set a $43.00 target price on Brookfield Infrastructure Partners and gave the stock a “neutral” rating in a research report on Monday, August 27th. Finally, Bank of America started coverage on Brookfield Infrastructure Partners in a research report on Tuesday, July 10th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.70.



NYSE BIP opened at $37.57 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.42 and a current ratio of 0.42. Brookfield Infrastructure Partners L.P. has a 12-month low of $36.93 and a 12-month high of $46.88. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 1.22 and a beta of 0.95.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.55). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $833.00 million. Brookfield Infrastructure Partners had a return on equity of 3.29% and a net margin of 8.25%. As a group, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, August 31st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Thursday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 124.50%.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.

Featured Story: Do stock splits help investors?

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

Receive News & Ratings for Brookfield Infrastructure Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Infrastructure Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply