The Manufacturers Life Insurance Company Reduces Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

The Manufacturers Life Insurance Company trimmed its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,539,281 shares of the utilities provider's stock after selling 555,579 shares during the period. The Manufacturers Life Insurance Company owned about 1.19% of Brookfield Infrastructure Partners worth $176,128,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Triasima Portfolio Management inc. raised its stake in Brookfield Infrastructure Partners by 1.1% in the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider's stock valued at $1,059,000 after purchasing an additional 350 shares during the last quarter. MGO One Seven LLC boosted its position in Brookfield Infrastructure Partners by 5.5% during the fourth quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider's stock worth $226,000 after acquiring an additional 372 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Brookfield Infrastructure Partners by 8.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider's stock valued at $257,000 after acquiring an additional 602 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in Brookfield Infrastructure Partners by 6.1% in the 4th 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 in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Brookfield Infrastructure Partners by 11.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider's stock valued at $226,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 57.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BIP shares. Raymond James raised their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 30th. Citigroup cut their price target 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. Scotiabank increased their price objective on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Finally, TD Securities raised their price objective on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Brookfield Infrastructure Partners currently has an average rating of "Buy" and an average price target of $41.67.

Brookfield Infrastructure Partners Stock Up 2.8 %

BIP traded up $0.84 during trading hours on Friday, hitting $30.95. 554,103 shares of the company's stock were exchanged, compared to its average volume of 444,563. The firm has a market cap of $14.37 billion, a P/E ratio of 773.94 and a beta of 1.07. 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 current ratio of 0.08, a quick ratio of 0.72 and a debt-to-equity ratio of 1.72. The firm has a 50 day moving average of $29.15 and a 200 day moving average of $31.96.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $5.39 billion during the quarter, compared to analysts' expectations of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period in the previous year, the firm posted $0.78 EPS. Analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a $0.43 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.72 annualized dividend and a yield of 5.56%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is -8,600.00%.

Brookfield Infrastructure Partners Company 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.