Nexus Investment Management ULC Sells 35,487 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Nexus Investment Management ULC trimmed its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,149,797 shares of the utilities provider’s stock after selling 35,487 shares during the period. Brookfield Infrastructure Partners makes up 3.6% of Nexus Investment Management ULC’s holdings, making the stock its 9th largest holding. Nexus Investment Management ULC’s holdings in Brookfield Infrastructure Partners were worth $36,456,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BIP. International Assets Investment Management LLC acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at $410,650,000. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter worth $40,286,000. Pathway Financial Advisers LLC increased its position in shares of Brookfield Infrastructure Partners by 1,616.3% in the third quarter. Pathway Financial Advisers LLC now owns 1,079,521 shares of the utilities provider’s stock worth $37,826,000 after purchasing an additional 1,016,623 shares during the period. Select Equity Group L.P. raised its stake in Brookfield Infrastructure Partners by 29.6% in the second quarter. Select Equity Group L.P. now owns 4,202,842 shares of the utilities provider’s stock valued at $115,326,000 after purchasing an additional 960,120 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in Brookfield Infrastructure Partners by 101.0% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock worth $55,783,000 after purchasing an additional 797,649 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $31.23 on Friday. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of -82.17 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.77 and a quick ratio of 0.72. The company has a 50 day simple moving average of $33.15 and a 200 day simple moving average of $32.73. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.62 annualized dividend and a dividend yield of 5.19%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -426.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BIP shares. TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. 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 report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Brookfield Infrastructure Partners Company 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.