Brookfield Infrastructure Partners L.P. (NYSE:BIP) Shares Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc boosted its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 44.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,245 shares of the utilities provider’s stock after acquiring an additional 7,500 shares during the period. K.J. Harrison & Partners Inc’s holdings in Brookfield Infrastructure Partners were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BIP. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Brookfield Infrastructure Partners by 40.6% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,245 shares of the utilities provider’s stock worth $1,152,000 after purchasing an additional 10,465 shares during the last quarter. Compass Planning Associates Inc purchased a new position in Brookfield Infrastructure Partners during the fourth quarter worth $28,000. Summerhill Capital Management lnc. raised its holdings in shares of Brookfield Infrastructure Partners by 2.9% in the fourth quarter. Summerhill Capital Management lnc. now owns 318,162 shares of the utilities provider’s stock worth $10,114,000 after acquiring an additional 8,913 shares during the last quarter. Cumberland Partners Ltd purchased a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter valued at $228,000. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Stock Down 1.0 %

Shares of BIP opened at $32.09 on Thursday. The firm has a market cap of $14.89 billion, a PE ratio of 802.45 and a beta of 1.08. 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 company’s fifty day moving average is $32.34 and its two-hundred day moving average is $33.24. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week 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 for the quarter, beating analysts’ consensus estimates of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. Analysts forecast 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 declared 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 dividend on an annualized basis and a yield of 5.36%. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Infrastructure Partners’s payout ratio is 4,051.01%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BIP. TD Securities boosted their target price on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Scotiabank upped their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. Finally, Raymond James lifted their price objective 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. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Brookfield Infrastructure Partners presently has an average rating of “Buy” and a consensus price target 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.