Principal Financial Group Inc. Decreases Stock Position in Brookfield Infrastructure Partners LP $BIP

Principal Financial Group Inc. cut its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 14.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,979,188 shares of the utilities provider’s stock after selling 4,427,850 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of Brookfield Infrastructure Partners worth $974,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BIP. JCIC Asset Management Inc. increased its holdings in Brookfield Infrastructure Partners by 6.6% in the 4th quarter. JCIC Asset Management Inc. now owns 5,589 shares of the utilities provider’s stock worth $194,000 after acquiring an additional 345 shares during the last quarter. Clear Trail Advisors LLC lifted its holdings in Brookfield Infrastructure Partners by 5.0% during the first quarter. Clear Trail Advisors LLC now owns 7,344 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 350 shares during the last quarter. NewEdge Advisors LLC boosted its position in Brookfield Infrastructure Partners by 4.8% during the fourth quarter. NewEdge Advisors LLC now owns 8,758 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 400 shares during the period. Public Sector Pension Investment Board boosted its position in Brookfield Infrastructure Partners by 0.9% during the second quarter. Public Sector Pension Investment Board now owns 44,700 shares of the utilities provider’s stock worth $1,494,000 after purchasing an additional 400 shares during the period. Finally, Empire Financial Management Company LLC boosted its holdings in Brookfield Infrastructure Partners by 1.0% in the 4th quarter. Empire Financial Management Company LLC now owns 40,792 shares of the utilities provider’s stock worth $1,417,000 after buying an additional 403 shares during the period. Institutional investors own 57.92% of the company’s stock.

Insiders Place Their Bets

In other Brookfield Infrastructure Partners news, CFO David Tyler Krant bought 1,150 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were acquired at an average cost of $48.10 per share, for a total transaction of $55,315.00. Following the purchase, the chief financial officer directly owned 2,150 shares of the company’s stock, valued at $103,415. The trade was a 115.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Brookfield Infrastructure Partners Stock Down 0.1%

Shares of NYSE:BIP opened at $37.60 on Tuesday. The firm has a fifty day moving average price of $37.88 and a two-hundred day moving average price of $36.96. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. Brookfield Infrastructure Partners LP has a one year low of $29.63 and a one year high of $40.32. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 56.97 and a beta of 1.06.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.62. Brookfield Infrastructure Partners had a net margin of 3.46% and a return on equity of 2.54%. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Analysts anticipate that Brookfield Infrastructure Partners LP will post 3.59 EPS for the current fiscal year.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, May 29th. Brookfield Infrastructure Partners’s dividend payout ratio is currently 275.76%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Brookfield Infrastructure Partners in a report on Tuesday, May 26th. Weiss Ratings cut Brookfield Infrastructure Partners from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. National Bank Financial raised their target price on Brookfield Infrastructure Partners from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Finally, Morgan Stanley lifted their target price on Brookfield Infrastructure Partners from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield Infrastructure Partners currently has a consensus rating of “Moderate Buy” and an average target price of $44.62.

Brookfield Infrastructure Partners Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.