Forge First Asset Management Inc. Sells 68,500 Shares of Brookfield Infrastructure Partners LP $BIP

Forge First Asset Management Inc. decreased its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 46.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 80,398 shares of the utilities provider’s stock after selling 68,500 shares during the period. Brookfield Infrastructure Partners makes up approximately 1.0% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. Forge First Asset Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $2,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIP. SouthState Corp purchased a new stake in shares of Brookfield Infrastructure Partners in the 1st quarter valued at about $37,000. Harbour Investments Inc. grew its holdings 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 worth $85,000 after purchasing an additional 474 shares in the last quarter. Pandora Wealth Inc. bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth approximately $80,000. State of Wyoming bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth approximately $97,000. Finally, Delta Asset Management LLC TN raised its stake in Brookfield Infrastructure Partners by 3,263.4% in the second quarter. Delta Asset Management LLC TN now owns 3,767 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 3,655 shares in the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Trading Down 0.7%

BIP opened at $35.00 on Wednesday. Brookfield Infrastructure Partners LP has a one year low of $25.72 and a one year high of $36.10. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.88 and a quick ratio of 0.85. The business has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $32.64. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 700.20 and a beta of 1.14.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.42). The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.Brookfield Infrastructure Partners’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. Analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Infrastructure Partners’s payout ratio is presently 256.72%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BIP shares. National Bank Financial raised shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Jefferies Financial Group set a $37.00 target price on Brookfield Infrastructure Partners and gave the company a “hold” rating in a research note on Wednesday, October 29th. National Bankshares set a $35.00 price target on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Friday, September 26th. Finally, Wall Street Zen upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.43.

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.