Trade Report: The Brookfield Infrastructure Partners LP (BIP) Stake Lowered by Bank of New York Mellon Corp

The Brookfield Infrastructure Partners LP (BIP) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Brookfield Infrastructure Partners LP (NYSE:BIP) by 6.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 24,343 shares of the company’s stock after selling 1,741 shares during the period. Bank of New York Mellon Corp’s holdings in Brookfield Infrastructure Partners were worth $1,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BIP. Bollard Group LLC boosted its position in shares of Brookfield Infrastructure Partners by 1.2% in the second quarter. Bollard Group LLC now owns 2,348 shares of the company’s stock valued at $106,000 after buying an additional 28 shares during the last quarter. Lucas Capital Management boosted its position in shares of Brookfield Infrastructure Partners by 1.5% in the second quarter. Lucas Capital Management now owns 52,040 shares of the company’s stock valued at $2,355,000 after buying an additional 752 shares during the last quarter. Creative Planning boosted its position in shares of Brookfield Infrastructure Partners by 11.3% in the second quarter. Creative Planning now owns 9,034 shares of the company’s stock valued at $409,000 after buying an additional 918 shares during the last quarter. Callahan Advisors LLC boosted its position in shares of Brookfield Infrastructure Partners by 1.0% in the second quarter. Callahan Advisors LLC now owns 104,102 shares of the company’s stock valued at $4,712,000 after buying an additional 1,011 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its position in shares of Brookfield Infrastructure Partners by 2.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 37,710 shares of the company’s stock valued at $1,589,000 after buying an additional 1,049 shares during the last quarter. Institutional investors own 29.78% of the company’s stock.

Brookfield Infrastructure Partners LP (NYSE:BIP) traded up 0.44% during mid-day trading on Friday, reaching $34.05. The company had a trading volume of 66,105 shares. The stock has a 50 day moving average price of $37.31 and a 200-day moving average price of $31.54. Brookfield Infrastructure Partners LP has a 12-month low of $20.33 and a 12-month high of $49.89. The stock has a market capitalization of $8.29 billion, a P/E ratio of 38.04 and a beta of 0.93.

Brookfield Infrastructure Partners (NYSE:BIP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.77. Brookfield Infrastructure Partners had a return on equity of 5.40% and a net margin of 20.77%. The business had revenue of $462 million for the quarter, compared to analysts’ expectations of $674.50 million. Equities analysts anticipate that Brookfield Infrastructure Partners LP will post $1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Monday, August 29th. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.57. Brookfield Infrastructure Partners’s dividend payout ratio is currently 175.75%.

BIP has been the topic of a number of research analyst reports. Barclays PLC restated an “equal weight” rating and issued a $42.67 price target (up previously from $42.00) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. TD Securities restated a “buy” rating and issued a $36.00 price target (up previously from $33.33) on shares of Brookfield Infrastructure Partners in a research note on Thursday, August 4th. Zacks Investment Research cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. BMO Capital Markets restated a “buy” rating on shares of Brookfield Infrastructure Partners in a research note on Friday, September 30th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $35.33 price objective (up previously from $32.67) on shares of Brookfield Infrastructure Partners in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$38.10.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include Utilities, Transport, Energy, Communications Infrastructure and Other. Its utilities segment consists of regulated terminal, which is a coal export terminal; electricity transmission, which consists of approximately 11,100 kilometers of transmission lines in North and South America, and regulated distribution, which consists of approximately 2.6 million electricity and natural gas connections.

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