Sanibel Captiva Trust Company Inc. Sells 2,559 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Sanibel Captiva Trust Company Inc. cut its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,043 shares of the utilities provider’s stock after selling 2,559 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Brookfield Infrastructure Partners were worth $3,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Clear Point Advisors Inc. acquired a new position in shares of Brookfield Infrastructure Partners in the 1st quarter valued at approximately $33,000. Bank & Trust Co acquired a new position in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $31,000. Bromfield Sneider Wealth Advisors acquired a new position in Brookfield Infrastructure Partners during the 1st quarter worth approximately $39,000. Park Place Capital Corp acquired a new position in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $41,000. Finally, Asset Dedication LLC acquired a new position in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $46,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Trading Down 1.2 %

NYSE BIP opened at $33.50 on Friday. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 108.06 and a beta of 1.06. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.58. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $35.48. The business has a 50 day moving average price of $32.45 and a 200-day moving average price of $30.19.

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

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.405 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.62 dividend on an annualized basis and a yield of 4.84%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Analyst Upgrades and Downgrades

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

Brookfield Infrastructure Partners Company 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.