Lake Street Advisors Group LLC Has $37.59 Million Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Lake Street Advisors Group LLC trimmed its stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,182,388 shares of the utilities provider’s stock after selling 42,875 shares during the quarter. Brookfield Infrastructure Partners accounts for about 1.7% of Lake Street Advisors Group LLC’s holdings, making the stock its 14th largest position. Lake Street Advisors Group LLC’s holdings in Brookfield Infrastructure Partners were worth $37,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triasima Portfolio Management inc. increased its position in shares of Brookfield Infrastructure Partners by 1.1% during the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider’s stock worth $1,059,000 after purchasing an additional 350 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in Brookfield Infrastructure Partners by 11.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock worth $226,000 after buying an additional 707 shares during the last quarter. Tacita Capital Inc increased its holdings in shares of Brookfield Infrastructure Partners by 0.6% during the third quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider’s stock worth $5,173,000 after buying an additional 837 shares in the last quarter. Dunhill Financial LLC bought a new position in shares of Brookfield Infrastructure Partners in the third quarter valued at approximately $30,000. Finally, Compass Planning Associates Inc acquired a new position in shares of Brookfield Infrastructure Partners in the 4th quarter worth approximately $28,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Price Performance

Brookfield Infrastructure Partners stock opened at $32.42 on Wednesday. The business’s 50-day simple moving average is $32.34 and its 200 day simple moving average is $33.24. 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 stock has a market cap of $15.05 billion, a price-to-earnings ratio of 810.70 and a beta of 1.08. Brookfield Infrastructure Partners L.P. has a 12-month low of $24.84 and a 12-month high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. As a group, research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current 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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. Brookfield Infrastructure Partners’s payout ratio is currently 4,051.01%.

Analyst Ratings Changes

A number of research firms recently weighed in on BIP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. StockNews.com upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Scotiabank lifted their price target on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James boosted their target price on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 30th. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.