Brookfield Infrastructure Partners L.P. (BIP) Stake Lowered by Lucas Capital Management

Lucas Capital Management cut its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,385 shares of the utilities provider’s stock after selling 3,389 shares during the period. Brookfield Infrastructure Partners comprises approximately 2.7% of Lucas Capital Management’s investment portfolio, making the stock its 11th biggest position. Lucas Capital Management’s holdings in Brookfield Infrastructure Partners were worth $3,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 13.6% in the 3rd quarter. TD Asset Management Inc. now owns 9,884,891 shares of the utilities provider’s stock valued at $425,408,000 after acquiring an additional 1,183,668 shares during the last quarter. Principal Financial Group Inc. raised its position in Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider’s stock worth $377,532,000 after purchasing an additional 437,693 shares during the last quarter. Neuberger Berman Group LLC raised its position in Brookfield Infrastructure Partners by 2.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 6,843,911 shares of the utilities provider’s stock worth $295,246,000 after purchasing an additional 194,390 shares during the last quarter. Capital World Investors raised its position in Brookfield Infrastructure Partners by 58.9% during the 2nd quarter. Capital World Investors now owns 5,215,000 shares of the utilities provider’s stock worth $213,297,000 after purchasing an additional 1,932,672 shares during the last quarter. Finally, First Manhattan Co. raised its position in Brookfield Infrastructure Partners by 6.7% during the 4th quarter. First Manhattan Co. now owns 1,749,112 shares of the utilities provider’s stock worth $78,377,000 after purchasing an additional 109,627 shares during the last quarter. Hedge funds and other institutional investors own 45.81% of the company’s stock.

Several research analysts recently issued reports on the company. Scotiabank set a $46.75 target price on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Monday. Zacks Investment Research downgraded Brookfield Infrastructure Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. National Bank Financial reduced their target price on Brookfield Infrastructure Partners from $48.00 to $46.50 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Raymond James Financial raised their target price on Brookfield Infrastructure Partners from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, BMO Capital Markets set a $47.00 target price on Brookfield Infrastructure Partners and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Brookfield Infrastructure Partners has a consensus rating of “Buy” and a consensus price target of $47.23.

Brookfield Infrastructure Partners L.P. (NYSE BIP) traded up $0.33 during trading on Wednesday, reaching $41.23. 79,944 shares of the company were exchanged, compared to its average volume of 396,593. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $35.30 and a fifty-two week high of $46.88. The stock has a market cap of $14,041.20, a price-to-earnings ratio of -1,026.00, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.23 and a quick ratio of 0.23.

Brookfield Infrastructure Partners declared that its board has approved a share repurchase plan on Tuesday, November 7th that permits the company to buyback 13,820,000 shares. This buyback authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. The Company’s segments include utilities, transport, energy, communications infrastructure and other. The utilities segment consists of regulated businesses, including regulated distribution (electricity and natural gas connections), electricity transmission and a regulated terminal (coal export terminal).

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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