Summerhill Capital Management lnc. Reduces Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Summerhill Capital Management lnc. lowered its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,874 shares of the utilities provider’s stock after selling 15,438 shares during the quarter. Brookfield Infrastructure Partners accounts for approximately 5.9% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 5th largest position. Summerhill Capital Management lnc. owned approximately 0.07% of Brookfield Infrastructure Partners worth $8,366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BIP. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter worth $31,000. Bank & Trust Co acquired a new stake in Brookfield Infrastructure Partners during the 2nd quarter worth about $31,000. Clear Point Advisors Inc. purchased a new stake in Brookfield Infrastructure Partners during the first quarter valued at about $33,000. Bromfield Sneider Wealth Advisors acquired a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $39,000. Finally, Park Place Capital Corp purchased a new position in shares of Brookfield Infrastructure Partners in the second quarter worth approximately $41,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Up 0.3 %

Shares of NYSE:BIP opened at $33.19 on Monday. 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’s 50-day moving average is $31.15 and its 200-day moving average is $29.58. The company has a market cap of $15.40 billion, a P/E ratio of 107.06 and a beta of 1.05. Brookfield Infrastructure Partners L.P. has a 52-week low of $21.03 and a 52-week high of $33.83.

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

Brookfield Infrastructure Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BIP shares. Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

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.