CCLA Investment Management Boosts Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CCLA Investment Management grew its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,477,350 shares of the utilities provider's stock after purchasing an additional 402,290 shares during the period. CCLA Investment Management owned approximately 0.54% of Brookfield Infrastructure Partners worth $78,022,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Brookfield Infrastructure Partners by 22.1% during the fourth quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider's stock valued at $628,265,000 after buying an additional 3,613,608 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Brookfield Infrastructure Partners by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider's stock valued at $525,947,000 after purchasing an additional 1,362,482 shares in the last quarter. Mackenzie Financial Corp raised its position in Brookfield Infrastructure Partners by 28.2% in the fourth quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider's stock valued at $224,468,000 after purchasing an additional 1,565,246 shares during the period. Scotia Capital Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 3.5% during the third quarter. Scotia Capital Inc. now owns 5,625,052 shares of the utilities provider's stock worth $164,815,000 after purchasing an additional 189,649 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Brookfield Infrastructure Partners by 1.5% in the third quarter. Toronto Dominion Bank now owns 5,006,726 shares of the utilities provider's stock worth $147,198,000 after buying an additional 73,080 shares during the period. Hedge funds and other institutional investors own 57.92% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BIP shares. Raymond James boosted their price target on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 2nd. BMO Capital Markets lowered their price target on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Thursday, May 2nd. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an "outperform" rating to a "sector perform" rating in a report on Tuesday, January 30th. Jefferies Financial Group lowered their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com cut Brookfield Infrastructure Partners from a "hold" rating to a "sell" rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.20.

Brookfield Infrastructure Partners Stock Down 1.9 %

BIP stock traded down $0.57 during trading on Tuesday, hitting $29.95. 417,267 shares of the company's stock traded hands, compared to its average volume of 508,418. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 96.61 and a beta of 0.99. Brookfield Infrastructure Partners L.P. has a 52 week low of $21.03 and a 52 week high of $37.32. The stock has a fifty day moving average price of $28.80 and a two-hundred day moving average price of $29.11.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.405 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.62 dividend on an annualized basis and a yield of 5.41%. Brookfield Infrastructure Partners's payout ratio is currently 522.58%.

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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