PCJ Investment Counsel Ltd. Has $9.09 Million Stock Position in Brookfield Infrastructure Partners LP (NYSE:BIP)

Key Points

• PCJ Investment Counsel Ltd. has significantly reduced its stake in Brookfield Infrastructure Partners by 47.7%, now holding 305,430 shares valued at approximately $9.09 million.
• Despite the reduction from PCJ, several other investors, including MGO One Seven LLC and TIAA Trust National Association, have increased their investments in Brookfield Infrastructure Partners.
• Analysts have mixed views on the stock, with a recent upgrade to "hold" from Wall Street Zen, while Citigroup lowered the price target from $34 to $31, reflecting a consensus rating of "Moderate Buy."

PCJ Investment Counsel Ltd. reduced its position in shares of Brookfield Infrastructure Partners LP (NYSE:BIP - Free Report) TSE: BIP.UN by 47.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 305,430 shares of the utilities provider's stock after selling 278,790 shares during the period. Brookfield Infrastructure Partners accounts for approximately 3.6% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 5th largest position. PCJ Investment Counsel Ltd. owned 0.07% of Brookfield Infrastructure Partners worth $9,093,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BIP. MGO One Seven LLC grew its stake in Brookfield Infrastructure Partners by 5.5% in the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after purchasing an additional 372 shares during the period. Belpointe Asset Management LLC grew its stake in Brookfield Infrastructure Partners by 6.1% in the fourth quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider's stock worth $361,000 after purchasing an additional 647 shares during the period. MRP Capital Investments LLC grew its stake in Brookfield Infrastructure Partners by 5.4% in the first quarter. MRP Capital Investments LLC now owns 20,825 shares of the utilities provider's stock worth $620,000 after purchasing an additional 1,075 shares during the period. North Capital Inc. purchased a new stake in Brookfield Infrastructure Partners in the first quarter worth $35,000. Finally, TIAA Trust National Association lifted its holdings in shares of Brookfield Infrastructure Partners by 6.9% during the first quarter. TIAA Trust National Association now owns 19,001 shares of the utilities provider's stock valued at $566,000 after purchasing an additional 1,225 shares during the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Up 1.0%

BIP stock traded up $0.29 during midday trading on Tuesday, hitting $30.45. The company's stock had a trading volume of 297,970 shares, compared to its average volume of 513,865. The company has a market cap of $14.14 billion, a PE ratio of 609.12 and a beta of 1.09. Brookfield Infrastructure Partners LP has a 12 month low of $25.72 and a 12 month high of $36.50. 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 firm's 50-day moving average is $32.56 and its 200-day moving average is $31.41.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released 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). The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $1.95 billion. Brookfield Infrastructure Partners had a net margin of 1.54% and a return on equity of 1.15%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. On average, equities research analysts forecast that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure Partners's payout ratio is 3,440.00%.

Wall Street Analyst Weigh In

BIP has been the subject of several recent research reports. Citigroup lowered their target price on shares of 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 upgraded shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.