Intact Investment Management Inc. Invests $40.29 Million in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Intact Investment Management Inc. purchased a new stake in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,147,684 shares of the utilities provider's stock, valued at approximately $40,286,000. Brookfield Infrastructure Partners accounts for approximately 1.3% of Intact Investment Management Inc.'s holdings, making the stock its 19th biggest holding. Intact Investment Management Inc. owned 0.25% of Brookfield Infrastructure Partners at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Forge First Asset Management Inc. lifted its stake in Brookfield Infrastructure Partners by 92.5% in the 1st quarter. Forge First Asset Management Inc. now owns 201,600 shares of the utilities provider's stock valued at $6,286,000 after acquiring an additional 96,890 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in Brookfield Infrastructure Partners by 46.4% during the 1st quarter. Coronation Fund Managers Ltd. now owns 97,038 shares of the utilities provider's stock worth $3,029,000 after buying an additional 30,737 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Brookfield Infrastructure Partners by 137.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 564,621 shares of the utilities provider's stock worth $19,784,000 after buying an additional 327,143 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Brookfield Infrastructure Partners in the 3rd quarter valued at about $894,000. Finally, Value Partners Investments Inc. acquired a new stake in shares of Brookfield Infrastructure Partners in the third quarter valued at about $596,000. Institutional investors own 57.92% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Sunday, September 15th. Jefferies Financial Group raised their target price on shares of Brookfield Infrastructure Partners from $35.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, Cibc World Mkts raised shares of Brookfield Infrastructure Partners to a "strong-buy" rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $39.40.

Brookfield Infrastructure Partners Stock Performance

NYSE BIP traded down $0.21 on Monday, reaching $33.90. The stock had a trading volume of 397,948 shares, compared to its average volume of 433,345. Brookfield Infrastructure Partners L.P. has a 1-year low of $24.84 and a 1-year high of $36.50. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market cap of $15.73 billion, a P/E ratio of -200.64 and a beta of 1.06. The firm has a fifty day moving average of $33.81 and a two-hundred day moving average of $30.97.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.80). Brookfield Infrastructure Partners had a return on equity of 0.51% and a net margin of 0.82%. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $0.72 EPS. Brookfield Infrastructure Partners's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.15 EPS for the current year.

About Brookfield Infrastructure Partners

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.