National Bank of Canada FI Lowers Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

National Bank of Canada FI lessened its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,512,391 shares of the utilities provider’s stock after selling 70,082 shares during the quarter. National Bank of Canada FI’s holdings in Brookfield Infrastructure Partners were worth $77,917,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Infrastructure Partners by 8.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock worth $525,947,000 after buying an additional 1,362,482 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Infrastructure Partners by 11.7% in the third quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider’s stock valued at $480,326,000 after acquiring an additional 1,714,740 shares during the period. Mackenzie Financial Corp boosted its position in shares of Brookfield Infrastructure Partners by 28.2% during the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after purchasing an additional 1,565,246 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Brookfield Infrastructure Partners by 3.5% during the 3rd 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 during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Brookfield Infrastructure Partners by 1.1% in the 3rd quarter. CIBC Asset Management Inc now owns 5,569,701 shares of the utilities provider’s stock valued at $163,953,000 after purchasing an additional 60,510 shares in the last quarter. 57.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIP has been the topic of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday. TD Securities dropped their price objective on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Jefferies Financial Group decreased their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. StockNews.com cut Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Raymond James boosted their price objective on shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

Brookfield Infrastructure Partners Stock Up 3.0 %

Shares of NYSE:BIP traded up $0.84 during trading on Friday, reaching $29.28. The stock had a trading volume of 472,990 shares, compared to its average volume of 541,856. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $21.03 and a fifty-two week high of $37.32. The business has a fifty day moving average price of $28.56 and a 200-day moving average price of $28.70. The stock has a market cap of $13.51 billion, a P/E ratio of 94.45 and a beta of 0.99.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.79 by ($0.99). Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. The business had revenue of $4.97 billion during the quarter. As a group, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.29 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

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.