Alberta Investment Management Corp Buys New Shares in Brookfield Infrastructure Partners LP $BIP

Key Points

• Alberta Investment Management Corp opened a new position in Brookfield Infrastructure Partners during the fourth quarter, buying 185,950 shares valued at about $6.46 million.
• Brookfield Infrastructure Partners recently reported better-than-expected quarterly results, with EPS of $0.90 versus $0.28 expected and revenue of $6.30 billion versus $2.13 billion estimated.
• The company declared a quarterly dividend of $0.455 per share, equal to an annualized yield of 4.8%, while analysts currently view the stock as a Moderate Buy with a consensus price target of $44.63.

Alberta Investment Management Corp bought a new position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 185,950 shares of the utilities provider's stock, valued at approximately $6,464,000.

Other large investors have also recently added to or reduced their stakes in the company. JCIC Asset Management Inc. boosted its stake in Brookfield Infrastructure Partners by 6.6% during the fourth quarter. JCIC Asset Management Inc. now owns 5,589 shares of the utilities provider's stock worth $194,000 after buying an additional 345 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Brookfield Infrastructure Partners by 1.6% during the third quarter. ProShare Advisors LLC now owns 25,357 shares of the utilities provider's stock valued at $834,000 after purchasing an additional 390 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Brookfield Infrastructure Partners by 0.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 67,771 shares of the utilities provider's stock valued at $2,229,000 after buying an additional 400 shares in the last quarter. Public Sector Pension Investment Board grew its position in Brookfield Infrastructure Partners by 0.9% in the second quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider's stock valued at $1,494,000 after acquiring an additional 400 shares during the period. Finally, Empire Financial Management Company LLC grew its position in Brookfield Infrastructure Partners by 1.0% in the fourth quarter. Empire Financial Management Company LLC now owns 40,792 shares of the utilities provider's stock valued at $1,417,000 after acquiring an additional 403 shares during the period. Institutional investors and hedge funds own 57.92% of the company's stock.

Insider Buying and Selling

In other news, CFO David Tyler Krant acquired 1,150 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the completion of the transaction, the chief financial officer directly owned 2,150 shares in the company, valued at $103,415. This trade represents a 115.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several brokerages have recently commented on BIP. Morgan Stanley boosted their target price on shares of Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. National Bank Financial boosted their price target on shares of Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $45.00 price objective (up from $44.00) on shares of Brookfield Infrastructure Partners in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded Brookfield Infrastructure Partners from a "hold (c+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.63.

Brookfield Infrastructure Partners Stock Performance

BIP stock opened at $38.02 on Wednesday. The company has a 50 day moving average price of $37.62 and a 200 day moving average price of $36.72. Brookfield Infrastructure Partners LP has a fifty-two week low of $29.63 and a fifty-two week high of $40.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. The stock has a market capitalization of $17.60 billion, a PE ratio of 57.60 and a beta of 1.05.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.62. The firm had revenue of $6.30 billion for 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 last year, the company earned $0.82 EPS. Analysts forecast that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a $0.455 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.82 annualized dividend and a yield of 4.8%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently 275.76%.

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.

Want to see what other hedge funds are holding BIP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.