Advisors Asset Management Inc. Purchases 1,756 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Advisors Asset Management Inc. raised its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIPGet Rating) (TSE:BIP.UN) by 48.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,368 shares of the utilities provider’s stock after acquiring an additional 1,756 shares during the quarter. Advisors Asset Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIP. TD Asset Management Inc. raised its holdings in Brookfield Infrastructure Partners by 50.8% during the second quarter. TD Asset Management Inc. now owns 15,707,894 shares of the utilities provider’s stock worth $599,160,000 after acquiring an additional 5,288,869 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Brookfield Infrastructure Partners by 1.1% in the 1st quarter. 1832 Asset Management L.P. now owns 9,907,990 shares of the utilities provider’s stock valued at $647,951,000 after buying an additional 110,363 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Brookfield Infrastructure Partners by 2.5% in the first quarter. Principal Financial Group Inc. now owns 9,482,667 shares of the utilities provider’s stock valued at $628,037,000 after buying an additional 229,265 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Brookfield Infrastructure Partners by 12.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,344,597 shares of the utilities provider’s stock worth $420,203,000 after buying an additional 685,194 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Brookfield Infrastructure Partners by 109.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,352,049 shares of the utilities provider’s stock worth $204,473,000 after acquiring an additional 2,791,626 shares in the last quarter. 55.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIP. Wells Fargo & Company boosted their price objective on shares of Brookfield Infrastructure Partners from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 4th. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 3rd. National Bank Financial cut Brookfield Infrastructure Partners from an “outperfrom under weight” rating to a “sector perform market weight” rating in a research report on Thursday, November 3rd. BMO Capital Markets decreased their target price on Brookfield Infrastructure Partners from $46.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Finally, National Bankshares downgraded Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $38.00 price target for the company. in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Brookfield Infrastructure Partners Price Performance

BIP stock opened at $37.41 on Tuesday. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $32.09 and a fifty-two week high of $46.01. The stock has a market capitalization of $17.14 billion, a price-to-earnings ratio of 143.89 and a beta of 0.77. The business’s fifty day moving average price is $36.74 and its two-hundred day moving average price is $38.89.

Brookfield Infrastructure Partners (NYSE:BIPGet Rating) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, November 2nd. The utilities provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.55). Brookfield Infrastructure Partners had a return on equity of 1.56% and a net margin of 2.80%. The business had revenue of $3.63 billion during the quarter. Research analysts expect that Brookfield Infrastructure Partners L.P. will post 2.7 EPS for the current year.

Brookfield Infrastructure Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.85%. Brookfield Infrastructure Partners’s dividend payout ratio is presently 553.87%.

About Brookfield Infrastructure Partners

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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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.

See Also

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Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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