PCJ Investment Counsel Ltd. Sells 43,220 Shares of Brookfield Infrastructure Partners LP $BIP

PCJ Investment Counsel Ltd. lessened its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,210 shares of the utilities provider’s stock after selling 43,220 shares during the quarter. Brookfield Infrastructure Partners comprises about 3.0% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 6th biggest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield Infrastructure Partners were worth $8,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in shares of Brookfield Infrastructure Partners in the first quarter valued at about $37,000. Harbour Investments Inc. lifted its position in shares of Brookfield Infrastructure Partners by 23.1% during the 2nd quarter. Harbour Investments Inc. now owns 2,523 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 474 shares during the last quarter. Pandora Wealth Inc. bought a new stake in Brookfield Infrastructure Partners during the 1st quarter valued at approximately $80,000. State of Wyoming acquired a new stake in Brookfield Infrastructure Partners in the 1st quarter valued at approximately $97,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Infrastructure Partners by 9.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,866 shares of the utilities provider’s stock valued at $115,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 57.92% of the company’s stock.

Analysts Set New Price Targets

BIP has been the subject of a number of research analyst reports. National Bank Financial upgraded Brookfield Infrastructure Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Wall Street Zen raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada set a $40.00 target price on shares of Brookfield Infrastructure Partners and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Jefferies Financial Group set a $37.00 price target on shares of Brookfield Infrastructure Partners and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Infrastructure Partners in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.43.

Brookfield Infrastructure Partners Trading Up 2.5%

Shares of BIP opened at $35.19 on Friday. The stock has a 50 day simple moving average of $32.98 and a 200-day simple moving average of $32.30. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.66. The stock has a market cap of $16.31 billion, a PE ratio of 703.86 and a beta of 1.14. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $35.64.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $2.05 billion. Brookfield Infrastructure Partners had a return on equity of 1.15% and a net margin of 1.54%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a $0.43 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.72 dividend on an annualized basis and a yield of 4.9%. Brookfield Infrastructure Partners’s payout ratio is 3,440.00%.

Brookfield Infrastructure Partners 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.