Brookfield Infrastructure Partners LP (NYSE:BIP) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

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. reduced its position in shares of 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 filing with the Securities and 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 about 0.20% of Brookfield Infrastructure Partners worth $27,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. North Capital Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter valued at $35,000. Parallel Advisors LLC bought a new stake in shares of Brookfield Infrastructure Partners during the 1st quarter worth $45,000. Farther Finance Advisors LLC boosted its stake in shares of Brookfield Infrastructure Partners by 565.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,243 shares of the utilities provider's stock worth $68,000 after acquiring an additional 1,906 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of Brookfield Infrastructure Partners by 85.8% during the 4th quarter. Capital Analysts LLC now owns 4,373 shares of the utilities provider's stock worth $139,000 after acquiring an additional 2,020 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Brookfield Infrastructure Partners by 5.5% during the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after acquiring an additional 372 shares in the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BIP shares. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup reduced their price objective on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Brookfield Infrastructure Partners Stock Down 0.4%

NYSE BIP opened at $30.14 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The stock's 50 day moving average is $32.62 and its two-hundred day moving average is $31.44. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 602.92 and a beta of 1.09. Brookfield Infrastructure Partners LP has a 1-year low of $25.72 and a 1-year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted 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 return on equity of 1.15% and a net margin of 1.54%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure Partners's dividend payout ratio is 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.

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