Intact Investment Management Inc. Has $55.48 Million Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Intact Investment Management Inc. boosted its stake in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 52.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,745,974 shares of the utilities provider's stock after buying an additional 598,290 shares during the period. Brookfield Infrastructure Partners makes up approximately 1.9% of Intact Investment Management Inc.'s holdings, making the stock its 12th biggest holding. Intact Investment Management Inc. owned 0.38% of Brookfield Infrastructure Partners worth $55,477,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BIP. Principal Financial Group Inc. grew its stake 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 worth $834,282,000 after acquiring an additional 616,373 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $200,000. Empower Advisory Group LLC bought a new position in shares of Brookfield Infrastructure Partners during the 3rd quarter worth approximately $229,000. ING Groep NV grew its stake in shares of Brookfield Infrastructure Partners by 16.7% during the 3rd quarter. ING Groep NV now owns 219,452 shares of the utilities provider's stock worth $7,690,000 after acquiring an additional 31,452 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. grew its stake in shares of Brookfield Infrastructure Partners by 72.3% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 645,740 shares of the utilities provider's stock worth $22,636,000 after acquiring an additional 271,020 shares in the last quarter. 57.92% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIP. StockNews.com raised shares of Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. TD Securities raised their target price on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. 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. Scotiabank raised their target price on shares of Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, 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, January 31st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $42.50.

Brookfield Infrastructure Partners Stock Performance

Brookfield Infrastructure Partners stock traded down $0.21 during mid-day trading on Tuesday, hitting $28.68. 481,383 shares of the company's stock traded hands, compared to its average volume of 416,387. The firm has a 50 day simple moving average of $31.73 and a two-hundred day simple moving average of $33.02. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 717.18 and a beta of 1.10. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.08 and a quick ratio of 0.72.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) 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%. On average, research analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.43 per share. This is an increase from Brookfield Infrastructure Partners's previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 6.00%. Brookfield Infrastructure Partners's dividend payout ratio (DPR) is currently 4,300.00%.

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.