Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its position in Brookfield Infrastructure Partners LP by 61.6%, selling 1,468,691 shares and retaining 915,013 shares valued at approximately $27.2 million.
• Brookfield Infrastructure Partners recently announced a quarterly dividend of $0.43 per share, which represents an annualized yield of 5.7%.
• Analysts have mixed ratings for Brookfield Infrastructure Partners, with the stock currently holding a consensus rating of "Moderate Buy" and an average target price of $41.67.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 61.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 915,013 shares of the utilities provider's stock after selling 1,468,691 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.20% of Brookfield Infrastructure Partners worth $27,225,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BIP. JPMorgan Chase & Co. boosted its holdings in shares of Brookfield Infrastructure Partners by 35.0% during the 4th quarter. JPMorgan Chase & Co. now owns 29,872 shares of the utilities provider's stock valued at $950,000 after buying an additional 7,742 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Brookfield Infrastructure Partners by 39.5% during the 4th quarter. Geode Capital Management LLC now owns 19,064 shares of the utilities provider's stock valued at $606,000 after buying an additional 5,398 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 1.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 75,589 shares of the utilities provider's stock valued at $2,403,000 after buying an additional 1,300 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter valued at $22,033,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Brookfield Infrastructure Partners by 9.7% during the 4th quarter. Bessemer Group Inc. now owns 38,256 shares of the utilities provider's stock valued at $1,216,000 after buying an additional 3,371 shares in the last quarter. Institutional investors own 57.92% of the company's stock.

Wall Street Analysts Forecast Growth

BIP has been the subject of several recent analyst reports. Citigroup lowered their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Brookfield Infrastructure Partners Stock Performance

NYSE:BIP traded down $0.66 during mid-day trading on Thursday, reaching $29.82. The company's stock had a trading volume of 681,871 shares, compared to its average volume of 485,112. Brookfield Infrastructure Partners LP has a 12-month low of $25.72 and a 12-month high of $36.50. The firm's fifty day moving average price is $32.37 and its two-hundred day moving average price is $31.37. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The stock has a market cap of $13.85 billion, a P/E ratio of 596.42 and a beta of 1.09.

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

Brookfield Infrastructure Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders 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 annualized dividend and a dividend yield of 5.8%. Brookfield Infrastructure Partners's dividend payout ratio is presently 3,440.00%.

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.