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

Summerhill Capital Management lnc. trimmed its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.8% in the second quarter, Holdings Channel.com reports. The fund 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 portfolio, making the stock its 5th largest position. Summerhill Capital Management lnc.’s holdings in Brookfield Infrastructure Partners were worth $8,366,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at approximately $31,000. Bank & Trust Co bought a new stake in shares of Brookfield Infrastructure Partners during the second quarter worth $31,000. Clear Point Advisors Inc. bought a new stake in Brookfield Infrastructure Partners during the 1st quarter worth about $33,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Brookfield Infrastructure Partners in the first quarter worth about $39,000. Finally, Park Place Capital Corp acquired a new position in shares of Brookfield Infrastructure Partners during the second quarter worth approximately $41,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Up 0.3 %

NYSE BIP opened at $33.19 on Monday. 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 12 month low of $21.03 and a 12 month high of $33.83. The company has a market capitalization of $15.40 billion, a PE ratio of 107.06 and a beta of 1.05. The stock has a 50-day simple moving average of $31.15 and a 200 day simple moving average of $29.58.

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

Brookfield Infrastructure Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.