CIBC Asset Management Inc Has $193.57 Million Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CIBC Asset Management Inc reduced its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,104,907 shares of the utilities provider’s stock after selling 806,298 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Infrastructure Partners were worth $193,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Brookfield Infrastructure Partners by 12.0% in the 4th quarter. Principal Financial Group Inc. now owns 26,675,618 shares of the utilities provider’s stock valued at $848,018,000 after buying an additional 2,866,195 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Brookfield Infrastructure Partners by 24.6% during the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock worth $140,273,000 after purchasing an additional 790,078 shares during the period. National Bank of Canada FI lifted its holdings in Brookfield Infrastructure Partners by 5.4% during the 3rd quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock worth $89,362,000 after purchasing an additional 130,371 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in Brookfield Infrastructure Partners by 1.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,225,263 shares of the utilities provider’s stock valued at $42,933,000 after purchasing an additional 20,610 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at $410,650,000. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Partners Trading Down 1.1 %

Shares of BIP opened at $32.83 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. Brookfield Infrastructure Partners L.P. has a 52-week low of $24.84 and a 52-week high of $36.50. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 820.86 and a beta of 1.08. The business’s fifty day moving average is $32.37 and its 200-day moving average is $33.10.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. Equities analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 5.24%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is currently 4,051.01%.

Analyst Ratings Changes

BIP has been the subject of a number of recent research reports. TD Securities boosted their target price on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Raymond James boosted their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a report on Thursday, January 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Scotiabank boosted their price target on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Friday, January 31st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure Partners has a consensus rating of “Buy” and a consensus target price of $42.50.

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.