Canton Hathaway LLC Takes Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Canton Hathaway LLC acquired a new stake in Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,350 shares of the utilities provider's stock, valued at approximately $487,000.

Several other large investors have also recently made changes to their positions in BIP. Mackenzie Financial Corp grew its position in Brookfield Infrastructure Partners by 8.0% during the fourth quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock valued at $278,858,000 after buying an additional 650,892 shares during the period. Scotia Capital Inc. boosted its stake in Brookfield Infrastructure Partners by 2.7% in the fourth quarter. Scotia Capital Inc. now owns 6,432,381 shares of the utilities provider's stock valued at $202,492,000 after acquiring an additional 171,748 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Brookfield Infrastructure Partners by 52.1% during the 4th quarter. Intact Investment Management Inc. now owns 1,745,974 shares of the utilities provider's stock valued at $55,477,000 after acquiring an additional 598,290 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Brookfield Infrastructure Partners by 6.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,492,480 shares of the utilities provider's stock worth $46,978,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Brookfield Infrastructure Partners by 3.4% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 710,827 shares of the utilities provider's stock worth $22,597,000 after purchasing an additional 23,374 shares during the last quarter. 57.92% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Performance

BIP stock traded up $0.47 during midday trading on Tuesday, reaching $33.14. 385,340 shares of the company's stock traded hands, compared to its average volume of 442,299. The firm has a market capitalization of $15.39 billion, a PE ratio of -1,655.97 and a beta of 1.09. The company has a 50-day moving average price of $31.69 and a two-hundred day moving average price of $31.37. Brookfield Infrastructure Partners LP has a 52 week low of $25.72 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 0.77.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.04% and a net margin of 1.41%. The company had revenue of $5.39 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the company posted $0.78 EPS. As a group, equities analysts anticipate that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.19%. The ex-dividend date is Friday, May 30th. Brookfield Infrastructure Partners's dividend payout ratio is presently -8,600.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIP. 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 report on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $41.67.

Brookfield Infrastructure Partners 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.