DAVENPORT & Co LLC Lowers Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

DAVENPORT & Co LLC lowered its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,001 shares of the utilities provider’s stock after selling 1,194 shares during the period. DAVENPORT & Co LLC’s holdings in Brookfield Infrastructure Partners were worth $4,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Brookfield Infrastructure Partners by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 23,809,423 shares of the utilities provider’s stock valued at $834,282,000 after purchasing an additional 616,373 shares in the last quarter. Toronto Dominion Bank grew its position in Brookfield Infrastructure Partners by 24.6% during the third quarter. Toronto Dominion Bank now owns 4,003,231 shares of the utilities provider’s stock worth $140,273,000 after buying an additional 790,078 shares in the last quarter. National Bank of Canada FI increased its stake in Brookfield Infrastructure Partners by 5.4% in the 3rd quarter. National Bank of Canada FI now owns 2,550,270 shares of the utilities provider’s stock worth $89,362,000 after acquiring an additional 130,371 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Brookfield Infrastructure Partners by 101.0% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,587,548 shares of the utilities provider’s stock valued at $55,783,000 after acquiring an additional 797,649 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Brookfield Infrastructure Partners by 1.7% during the third quarter. Lake Street Advisors Group LLC now owns 1,225,263 shares of the utilities provider’s stock worth $42,933,000 after purchasing an additional 20,610 shares in the last quarter. 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. Raymond James raised their target price on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a research note on Friday. Finally, TD Securities lifted their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.80.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock opened at $32.04 on Tuesday. The firm has a fifty day simple moving average of $32.79 and a two-hundred day simple moving average of $32.97. Brookfield Infrastructure Partners L.P. has a twelve month low of $24.84 and a twelve month high of $36.50. The company has a market capitalization of $14.87 billion, a PE ratio of 801.10 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.

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 the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. Research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 5.37%. This is an increase from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. Brookfield Infrastructure Partners’s payout ratio is presently 4,051.01%.

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.