Intact Investment Management Inc. Raises Stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Intact Investment Management Inc. grew its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 136.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,919,094 shares of the utilities provider’s stock after purchasing an additional 1,106,910 shares during the quarter. Brookfield Infrastructure Partners makes up 2.4% of Intact Investment Management Inc.’s investment portfolio, making the stock its 8th largest holding. Intact Investment Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $60,484,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at $39,000. LWM Advisory Services LLC purchased a new stake in shares of Brookfield Infrastructure Partners during the 3rd quarter valued at $48,000. CWM LLC increased its holdings in Brookfield Infrastructure Partners by 33.7% in the 4th quarter. CWM LLC now owns 2,986 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 753 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Brookfield Infrastructure Partners in the 4th quarter worth about $190,000. Finally, Acadian Asset Management LLC purchased a new stake in Brookfield Infrastructure Partners in the 3rd quarter worth about $182,000. 57.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. National Bankshares lowered Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 price objective for the company. in a report on Tuesday, January 30th. Raymond James lifted their price objective on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Jefferies Financial Group reduced their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets lifted their target price on Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. Finally, TD Securities reduced their target price on Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.60.

Brookfield Infrastructure Partners Price Performance

Shares of BIP traded down $0.22 during trading hours on Friday, reaching $27.14. 240,627 shares of the company’s stock traded hands, compared to its average volume of 517,182. The stock has a market cap of $12.52 billion, a PE ratio of 193.87 and a beta of 0.95. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.20. The firm’s 50 day simple moving average is $28.91 and its 200-day simple moving average is $28.66. Brookfield Infrastructure Partners L.P. has a 12 month low of $21.03 and a 12 month high of $37.32.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.99). The business had revenue of $4.97 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. Equities analysts expect that Brookfield Infrastructure Partners L.P. will post 3.3 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a $0.405 dividend. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.62 dividend on an annualized basis and a yield of 5.97%. Brookfield Infrastructure Partners’s payout ratio is presently 1,157.23%.

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.