CIBC Asset Management Inc Acquires 1,112,217 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CIBC Asset Management Inc grew its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIPFree Report) (TSE:BIP.UN) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,681,918 shares of the utilities provider’s stock after acquiring an additional 1,112,217 shares during the period. CIBC Asset Management Inc owned 1.46% of Brookfield Infrastructure Partners worth $211,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Scotia Capital Inc. grew its stake in shares of Brookfield Infrastructure Partners by 4.1% in the fourth quarter. Scotia Capital Inc. now owns 5,858,382 shares of the utilities provider’s stock valued at $184,385,000 after buying an additional 233,330 shares in the last quarter. Gold Investment Management Ltd. acquired a new position in shares of Brookfield Infrastructure Partners during the 4th quarter worth about $5,330,000. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure Partners in the 4th quarter valued at about $31,000. Clearbridge Investments LLC lifted its stake in Brookfield Infrastructure Partners by 17.6% in the 4th quarter. Clearbridge Investments LLC now owns 2,076,718 shares of the utilities provider’s stock valued at $65,396,000 after purchasing an additional 310,143 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Brookfield Infrastructure Partners by 1.6% during the fourth quarter. Wells Fargo & Company MN now owns 312,154 shares of the utilities provider’s stock worth $9,830,000 after purchasing an additional 5,060 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group cut their price objective on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. StockNews.com raised Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Finally, BMO Capital Markets reduced their price objective on shares of Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Get Our Latest Stock Report on Brookfield Infrastructure Partners

Brookfield Infrastructure Partners Price Performance

BIP traded down $0.47 during trading on Tuesday, hitting $28.66. 134,451 shares of the stock traded hands, compared to its average volume of 493,629. The business has a 50 day moving average price of $28.87 and a 200 day moving average price of $29.50. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 93.97 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a twelve month low of $21.03 and a twelve month high of $37.32.

Brookfield Infrastructure Partners (NYSE:BIPGet Free Report) (TSE:BIP.UN) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The business had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. On average, equities research analysts predict that Brookfield Infrastructure Partners L.P. will post 3.23 earnings per share 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. Investors of record on Friday, May 31st will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Friday, May 31st. Brookfield Infrastructure Partners’s dividend payout ratio is 522.58%.

About Brookfield Infrastructure Partners

(Free Report)

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.

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

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