CIBC Asset Management Inc Sells 806,298 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

CIBC Asset Management Inc trimmed its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,104,907 shares of the utilities provider’s stock after selling 806,298 shares during the quarter. CIBC Asset Management Inc owned 1.32% of Brookfield Infrastructure Partners worth $193,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Triasima Portfolio Management inc. grew its position in Brookfield Infrastructure Partners by 1.1% in 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 during the last quarter. Creative Planning grew its position in Brookfield Infrastructure Partners by 0.6% during the third quarter. Creative Planning now owns 67,445 shares of the utilities provider’s stock worth $2,363,000 after buying an additional 389 shares in the last quarter. Insight Folios Inc increased its stake in Brookfield Infrastructure Partners by 3.2% during the third quarter. Insight Folios Inc now owns 16,741 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 525 shares during the period. Kingsview Wealth Management LLC raised its holdings in Brookfield Infrastructure Partners by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 707 shares in the last quarter. Finally, Tacita Capital Inc lifted its position in shares of Brookfield Infrastructure Partners by 0.6% in the 3rd quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider’s stock worth $5,173,000 after acquiring an additional 837 shares during the period. Institutional investors and hedge funds own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP opened at $32.83 on Monday. Brookfield Infrastructure Partners L.P. has a 12 month low of $24.84 and a 12 month high of $36.50. The company’s 50-day moving average price is $32.37 and its two-hundred day moving average price is $33.10. 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 firm has a market cap of $15.24 billion, a PE ratio of 820.86 and a beta of 1.08.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.82 EPS for the quarter, topping 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%. On average, equities analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is 4,051.01%.

Analyst Upgrades and Downgrades

BIP has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of Brookfield Infrastructure Partners in a research report on Friday, January 31st. Raymond James boosted their price target on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a report on Thursday, January 30th. Scotiabank raised their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities upped 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. Finally, StockNews.com upgraded shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.50.

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.