Baskin Financial Services Inc. Sells 19,884 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Baskin Financial Services Inc. decreased its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,431 shares of the utilities provider’s stock after selling 19,884 shares during the quarter. Brookfield Infrastructure Partners comprises 1.0% of Baskin Financial Services Inc.’s holdings, making the stock its 29th largest holding. Baskin Financial Services Inc.’s holdings in Brookfield Infrastructure Partners were worth $12,432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Brookfield Infrastructure Partners in the 3rd quarter worth about $26,000. Clear Point Advisors Inc. bought a new stake in Brookfield Infrastructure Partners during the 1st quarter worth approximately $33,000. Bank & Trust Co purchased a new stake in shares of Brookfield Infrastructure Partners in the second quarter worth approximately $31,000. Bromfield Sneider Wealth Advisors bought a new position in shares of Brookfield Infrastructure Partners in the first quarter valued at approximately $39,000. Finally, Park Place Capital Corp bought a new position in shares of Brookfield Infrastructure Partners in the second quarter valued at approximately $41,000. 57.92% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Stock Performance

BIP traded up $0.29 during trading on Wednesday, hitting $34.44. 78,011 shares of the company traded hands, compared to its average volume of 438,089. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $35.48. The stock’s fifty day moving average is $32.68 and its 200 day moving average is $30.27. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. The firm has a market cap of $15.98 billion, a P/E ratio of 110.13 and a beta of 1.06.

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 analysts’ consensus estimates of $0.70 by ($0.80). The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $1.91 billion. Brookfield Infrastructure Partners had a net margin of 0.82% and a return on equity of 0.51%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities analysts predict that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Sunday, September 15th. Cibc World Mkts upgraded shares of Brookfield Infrastructure Partners to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

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.