Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,383,704 shares of the utilities provider’s stock after selling 320,626 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield Infrastructure Partners were worth $75,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Brookfield Infrastructure Partners by 12.0% during the fourth quarter. Principal Financial Group Inc. now owns 26,675,618 shares of the utilities provider’s stock valued at $848,018,000 after acquiring an additional 2,866,195 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Brookfield Infrastructure Partners by 24.6% in the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock worth $140,273,000 after acquiring an additional 790,078 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Brookfield Infrastructure Partners during the fourth quarter worth $22,033,000. Addenda Capital Inc. boosted its stake in Brookfield Infrastructure Partners by 129.5% during the fourth quarter. Addenda Capital Inc. now owns 680,481 shares of the utilities provider’s stock worth $21,632,000 after buying an additional 384,000 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. raised its position in Brookfield Infrastructure Partners by 72.3% in the third quarter. PCJ Investment Counsel Ltd. now owns 645,740 shares of the utilities provider’s stock valued at $22,636,000 after purchasing an additional 271,020 shares during the period. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Stock Up 0.6 %

Shares of Brookfield Infrastructure Partners stock opened at $28.40 on Thursday. 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 firm has a market cap of $13.18 billion, a P/E ratio of 710.23 and a beta of 1.10. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The business has a 50-day moving average price of $31.96 and a 200 day moving average price of $33.12.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. On average, sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share 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. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.06%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. Brookfield Infrastructure Partners’s dividend payout ratio is presently 4,300.00%.

Analyst Upgrades and Downgrades

BIP has been the topic of several research analyst reports. Scotiabank boosted their price objective on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. Raymond James upped their target price 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. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, TD Securities increased their target price on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $42.50.

Brookfield Infrastructure Partners 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.