Bank of New York Mellon Corp Increases Stake in Brookfield Infrastructure Partners (BIP)

Bank of New York Mellon Corp grew its stake in shares of Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) by 4.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,526 shares of the utilities provider’s stock after buying an additional 1,970 shares during the period. Bank of New York Mellon Corp’s holdings in Brookfield Infrastructure Partners were worth $2,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Brookfield Infrastructure Partners by 13.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 130,570 shares of the utilities provider’s stock valued at $5,851,000 after buying an additional 15,910 shares during the period. MUFG Americas Holdings Corp purchased a new stake in Brookfield Infrastructure Partners during the 4th quarter worth $215,000. D.A. Davidson & CO. boosted its position in Brookfield Infrastructure Partners by 7.0% during the 4th quarter. D.A. Davidson & CO. now owns 66,293 shares of the utilities provider’s stock worth $2,971,000 after purchasing an additional 4,320 shares during the period. Davis Rea Ltd. boosted its position in Brookfield Infrastructure Partners by 3.0% during the 4th quarter. Davis Rea Ltd. now owns 197,085 shares of the utilities provider’s stock worth $8,831,000 after purchasing an additional 5,720 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Brookfield Infrastructure Partners by 73.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,727,514 shares of the utilities provider’s stock worth $167,030,000 after purchasing an additional 1,577,649 shares during the period. 37.59% of the stock is owned by institutional investors.

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Shares of BIP stock opened at $41.14 on Tuesday. Brookfield Infrastructure Partners has a 12 month low of $37.54 and a 12 month high of $46.88. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $14,234.68, a price-to-earnings ratio of 27.25, a PEG ratio of 1.17 and a beta of 0.96.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.46). Brookfield Infrastructure Partners had a return on equity of 1.29% and a net margin of 1.95%. The firm had revenue of $984.00 million during the quarter, compared to analyst estimates of $942.00 million. sell-side analysts forecast that Brookfield Infrastructure Partners will post 3.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th were issued a $0.47 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 4.57%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 124.50%.

A number of analysts recently weighed in on BIP shares. Zacks Investment Research cut shares of Brookfield Infrastructure Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 13th. Scotiabank set a $46.75 price target on shares of Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research report on Tuesday, January 2nd. Credit Suisse Group reaffirmed a “hold” rating and set a $44.00 price target on shares of Brookfield Infrastructure Partners in a research report on Wednesday, December 27th. Raymond James Financial upped their price target on shares of Brookfield Infrastructure Partners from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Finally, National Bank Financial decreased their price target on shares of Brookfield Infrastructure Partners from $48.00 to $46.50 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Brookfield Infrastructure Partners has a consensus rating of “Buy” and an average target price of $47.20.

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Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.

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

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