Harbor Advisory Corp MA Sells 4,814 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Harbor Advisory Corp MA lessened its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,321 shares of the utilities provider’s stock after selling 4,814 shares during the period. Brookfield Infrastructure Partners makes up approximately 2.8% of Harbor Advisory Corp MA’s holdings, making the stock its 11th largest position. Harbor Advisory Corp MA owned about 0.05% of Brookfield Infrastructure Partners worth $8,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BIP. Roof Eidam Maycock Peralta LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at about $237,000. Raymond James & Associates raised its stake in shares of Brookfield Infrastructure Partners by 6.4% in the third quarter. Raymond James & Associates now owns 610,607 shares of the utilities provider’s stock worth $21,396,000 after buying an additional 36,806 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Brookfield Infrastructure Partners by 101.0% in 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 buying an additional 797,649 shares during the period. Cedar Mountain Advisors LLC bought a new stake in Brookfield Infrastructure Partners during the 3rd quarter worth approximately $26,000. Finally, Creative Planning raised its stake in Brookfield Infrastructure Partners by 0.6% during the 3rd quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after acquiring an additional 389 shares during the period. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BIP. Cibc World Mkts raised Brookfield Infrastructure Partners to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Sunday, September 15th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.29.

Brookfield Infrastructure Partners Price Performance

Shares of Brookfield Infrastructure Partners stock traded down $0.56 during trading hours on Tuesday, reaching $35.58. The company’s stock had a trading volume of 144,493 shares, compared to its average volume of 436,074. The firm has a 50 day moving average price of $33.17 and a 200-day moving average price of $30.46. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $36.50. The stock has a market cap of $16.50 billion, a P/E ratio of 116.56 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data 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 firm 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 company’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. On average, analysts predict that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.55%. Brookfield Infrastructure Partners’s dividend payout ratio is 522.58%.

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.