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CCLA Investment Management Has $172.54 Million Stock Holdings in Brookfield Infrastructure Partners LP (NYSE:BIP)

Brookfield Infrastructure Partners logo with Finance background

Key Points

  • CCLA Investment Management increased its holdings in Brookfield Infrastructure Partners LP by 33.5% during the 1st quarter, owning a total of 5,795,677 shares worth approximately $172.54 million.
  • Brookfield Infrastructure Partners reported $0.81 earnings per share for the latest quarter, missing consensus estimates slightly, but achieved a year-over-year revenue increase of 5.7%.
  • The company announced a quarterly dividend of $0.43, resulting in an annualized dividend yield of 5.5%, with stockholders of record on August 29 set to receive the payment.
  • Interested in Brookfield Infrastructure Partners? Here are five stocks we like better.

CCLA Investment Management increased its holdings in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 33.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,795,677 shares of the utilities provider's stock after buying an additional 1,453,772 shares during the quarter. Brookfield Infrastructure Partners accounts for about 3.1% of CCLA Investment Management's holdings, making the stock its 3rd biggest holding. CCLA Investment Management owned approximately 1.25% of Brookfield Infrastructure Partners worth $172,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BIP. Principal Financial Group Inc. lifted its position in shares of Brookfield Infrastructure Partners by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 27,621,080 shares of the utilities provider's stock worth $822,832,000 after buying an additional 945,462 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Brookfield Infrastructure Partners in the 4th quarter worth about $22,033,000. Guardian Capital LP acquired a new position in Brookfield Infrastructure Partners in the 4th quarter worth about $21,099,000. Mackenzie Financial Corp increased its holdings in Brookfield Infrastructure Partners by 8.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,784,509 shares of the utilities provider's stock worth $278,858,000 after purchasing an additional 650,892 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in Brookfield Infrastructure Partners by 4.3% in the 1st quarter. Scotia Capital Inc. now owns 6,709,573 shares of the utilities provider's stock worth $197,811,000 after purchasing an additional 277,192 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Partners Trading Down 0.3%

Shares of BIP stock opened at $31.12 on Friday. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 622.52 and a beta of 1.09. The stock has a 50-day moving average of $32.84 and a 200-day moving average of $31.47. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. 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 issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. On average, equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a dividend yield of 5.5%. Brookfield Infrastructure Partners's dividend payout ratio is presently -8,600.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BIP shares. Citigroup lowered their target price 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. Wall Street Zen raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.67.

View Our Latest Report on BIP

About Brookfield Infrastructure Partners

(Free Report)

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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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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