BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $49.27 Million Holdings in Brookfield Infrastructure Partners LP $BIP

Key Points

• British Columbia Investment Management Corp has significantly increased its stake in Brookfield Infrastructure Partners, raising its holdings by 713.3% during the first quarter to a total of 1,655,916 shares worth approximately $49.27 million.
• Brookfield Infrastructure Partners has received a range of ratings from analysts, with one issuing a Strong Buy, four a Buy, and one a Hold, while it has an average price target of $41.67.
• The company recently declared a quarterly dividend of $0.43, reflecting an annualized dividend of $1.72 and a yield of 5.6%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 713.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,655,916 shares of the utilities provider's stock after purchasing an additional 1,452,320 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.36% of Brookfield Infrastructure Partners worth $49,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Infrastructure Partners by 35.0% in the fourth quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider's stock worth $950,000 after buying an additional 7,742 shares during the period. Geode Capital Management LLC lifted its position in shares of Brookfield Infrastructure Partners by 39.5% in the fourth quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider's stock worth $606,000 after purchasing an additional 5,398 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Brookfield Infrastructure Partners by 1.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 75,589 shares of the utilities provider's stock worth $2,403,000 after purchasing an additional 1,300 shares in the last quarter. MGO One Seven LLC raised its position in Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock valued at $226,000 after acquiring an additional 372 shares in the last quarter. Finally, Capital Analysts LLC raised its position in Brookfield Infrastructure Partners by 85.8% during the fourth quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock valued at $139,000 after acquiring an additional 2,020 shares in the last quarter. Institutional investors own 57.92% of the company's stock.

Analysts Set New Price Targets

BIP has been the topic of several analyst reports. Citigroup lowered their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada set a $40.00 price target on shares of Brookfield Infrastructure Partners and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners Stock Up 1.1%

Shares of BIP traded up $0.34 on Thursday, hitting $31.76. The company's stock had a trading volume of 265,889 shares, compared to its average volume of 514,931. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.66. The firm's fifty day moving average price is $31.85 and its 200-day moving average price is $31.22. Brookfield Infrastructure Partners LP has a fifty-two week low of $25.72 and a fifty-two week high of $36.50. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 635.13 and a beta of 1.09.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Brookfield Infrastructure Partners's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a yield of 5.4%. Brookfield Infrastructure Partners's dividend payout ratio is 3,440.00%.

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.