Park Avenue Securities LLC Purchases 1,939 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Park Avenue Securities LLC boosted its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 22.8% in the 1st quarter, Holdings Channel reports. The firm owned 10,450 shares of the utilities provider’s stock after buying an additional 1,939 shares during the quarter. Park Avenue Securities LLC’s holdings in Brookfield Infrastructure Partners were worth $326,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 22.1% in the fourth quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock worth $628,265,000 after buying an additional 3,613,608 shares during the period. 1832 Asset Management L.P. increased its stake in Brookfield Infrastructure Partners by 9.6% in the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after purchasing an additional 1,678,140 shares during the period. Mackenzie Financial Corp lifted its position in shares of Brookfield Infrastructure Partners by 28.2% during the fourth quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock worth $224,468,000 after purchasing an additional 1,565,246 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock valued at $525,947,000 after purchasing an additional 1,362,482 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Brookfield Infrastructure Partners by 20.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock worth $211,259,000 after purchasing an additional 1,112,217 shares during the last quarter. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BIP shares. Jefferies Financial Group decreased their price objective on shares of 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 lowered their price target on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, StockNews.com downgraded Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Brookfield Infrastructure Partners Trading Down 0.8 %

Shares of NYSE BIP opened at $27.44 on Monday. The stock has a market capitalization of $12.73 billion, a PE ratio of 88.52 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a 12-month low of $21.03 and a 12-month high of $37.15. The stock’s fifty day simple moving average is $28.74 and its two-hundred day simple moving average is $29.58.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The company had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a net margin of 2.05% and a return on equity of 1.23%. On average, equities analysts predict that Brookfield Infrastructure Partners L.P. will post 3.23 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.62 annualized dividend and a dividend yield of 5.90%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently 522.58%.

About Brookfield Infrastructure Partners

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.