Davis Rea LTD. Trims Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Davis Rea LTD. lessened its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 67,392 shares of the utilities provider’s stock after selling 5,340 shares during the quarter. Brookfield Infrastructure Partners comprises 1.0% of Davis Rea LTD.’s investment portfolio, making the stock its 20th biggest holding. Davis Rea LTD.’s holdings in Brookfield Infrastructure Partners were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at about $26,000. Bank & Trust Co acquired a new position in Brookfield Infrastructure Partners during the second quarter worth approximately $31,000. Clear Point Advisors Inc. acquired a new position in Brookfield Infrastructure Partners during the first quarter worth approximately $33,000. Park Place Capital Corp acquired a new position in Brookfield Infrastructure Partners during the second quarter worth approximately $41,000. Finally, Asset Dedication LLC acquired a new position in Brookfield Infrastructure Partners during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analyst Ratings Changes

BIP has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Sunday, September 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Brookfield Infrastructure Partners Price Performance

Shares of BIP stock opened at $34.85 on Thursday. The company has a market capitalization of $16.17 billion, a PE ratio of 112.63 and a beta of 1.06. The firm has a fifty day simple moving average of $33.74 and a 200-day simple moving average of $30.80. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a twelve month low of $22.21 and a twelve month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80). The company 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%. Brookfield Infrastructure Partners’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Equities research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 earnings per share for the current fiscal year.

About Brookfield Infrastructure Partners

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.