The Manufacturers Life Insurance Company trimmed its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 9.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,539,281 shares of the utilities provider's stock after selling 555,579 shares during the quarter. The Manufacturers Life Insurance Company owned 1.19% of Brookfield Infrastructure Partners worth $176,128,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in BIP. Promus Capital LLC bought a new stake in Brookfield Infrastructure Partners during the 4th quarter valued at $26,000. Compass Planning Associates Inc purchased a new stake in shares of Brookfield Infrastructure Partners during the fourth quarter worth about $28,000. Larson Financial Group LLC bought a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter worth about $30,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter worth about $32,000. Finally, Stonebridge Financial Group LLC purchased a new position in Brookfield Infrastructure Partners during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 57.92% of the company's stock.
Analysts Set New Price Targets
BIP has been the topic of several research analyst reports. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Scotiabank upped their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Citigroup dropped 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 research report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a research report on Tuesday, March 25th. Finally, Raymond James lifted their price objective on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $41.67.
Check Out Our Latest Report on BIP
Brookfield Infrastructure Partners Stock Up 2.8 %
Shares of NYSE BIP traded up $0.84 on Friday, reaching $30.95. 554,103 shares of the company's stock traded hands, compared to its average volume of 444,449. Brookfield Infrastructure Partners L.P. has a 12 month low of $25.72 and a 12 month high of $36.50. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72. The company has a market cap of $14.37 billion, a price-to-earnings ratio of 773.94 and a beta of 1.07. The business's 50 day simple moving average is $29.15 and its two-hundred day simple moving average is $31.90.
Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. The firm had revenue of $5.39 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, equities research analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.
Brookfield Infrastructure Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Infrastructure Partners's payout ratio is -8,600.00%.
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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