Bank of Nova Scotia Buys 614,531 Shares of Brookfield Infrastructure Partners LP $BIP

Bank of Nova Scotia boosted its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 28.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,812,022 shares of the utilities provider’s stock after buying an additional 614,531 shares during the quarter. Bank of Nova Scotia’s holdings in Brookfield Infrastructure Partners were worth $101,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Brookfield Infrastructure Partners by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,802,475 shares of the utilities provider’s stock worth $53,696,000 after purchasing an additional 195,276 shares during the period. Focus Partners Wealth lifted its stake in Brookfield Infrastructure Partners by 8.5% in the first quarter. Focus Partners Wealth now owns 24,734 shares of the utilities provider’s stock worth $737,000 after purchasing an additional 1,931 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $2,595,000. Glenview Trust co purchased a new position in shares of Brookfield Infrastructure Partners during the second quarter valued at approximately $201,000. Finally, Raymond James Financial Inc. grew its stake in shares of Brookfield Infrastructure Partners by 8.8% during the second quarter. Raymond James Financial Inc. now owns 724,975 shares of the utilities provider’s stock valued at $24,287,000 after buying an additional 58,511 shares during the last quarter. Institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BIP shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $45.00 price target (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Weiss Ratings cut Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Tuesday. Finally, National Bank Financial increased their target price on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Brookfield Infrastructure Partners Stock Up 1.7%

Shares of NYSE:BIP opened at $40.95 on Friday. Brookfield Infrastructure Partners LP has a 52-week low of $29.63 and a 52-week high of $41.13. The stock has a market cap of $18.95 billion, a P/E ratio of 62.04 and a beta of 1.06. The business’s 50 day moving average is $38.20 and its 200 day moving average is $37.21. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.74.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.62. The business had revenue of $6.30 billion during the quarter, compared to analyst estimates of $2.13 billion. Brookfield Infrastructure Partners had a return on equity of 2.54% and a net margin of 3.46%.During the same period in the previous year, the company posted $0.82 EPS. Sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, May 29th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 275.76%.

Insider Buying and Selling

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant purchased 1,150 shares of Brookfield Infrastructure Partners stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $48.10 per share, for a total transaction of $55,315.00. Following the acquisition, the chief financial officer owned 2,150 shares in the company, valued at $103,415. This trade represents a 115.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.