PCJ Investment Counsel Ltd. Sells 61,520 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

PCJ Investment Counsel Ltd. lowered its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP - Free Report) TSE: BIP.UN by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 584,220 shares of the utilities provider's stock after selling 61,520 shares during the period. Brookfield Infrastructure Partners makes up approximately 6.3% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 3rd largest holding. PCJ Investment Counsel Ltd. owned 0.13% of Brookfield Infrastructure Partners worth $18,563,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Triasima Portfolio Management inc. raised its stake in shares of Brookfield Infrastructure Partners by 1.1% during the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider's stock worth $1,059,000 after buying an additional 350 shares during the period. Kingsview Wealth Management LLC raised its stake in Brookfield Infrastructure Partners by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider's stock valued at $226,000 after purchasing an additional 707 shares during the last quarter. Promus Capital LLC acquired a new position in Brookfield Infrastructure Partners in the 4th quarter valued at $26,000. Tacita Capital Inc raised its stake in Brookfield Infrastructure Partners by 0.6% in the 3rd quarter. Tacita Capital Inc now owns 147,208 shares of the utilities provider's stock valued at $5,173,000 after purchasing an additional 837 shares during the last quarter. Finally, Dunhill Financial LLC acquired a new position in Brookfield Infrastructure Partners in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 57.92% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

BIP has been the subject of several analyst reports. Scotiabank upped their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. TD Securities upped their target price on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Raymond James upped their target price on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the company a "strong-buy" rating in a report on Thursday, January 30th. Royal Bank of Canada restated an "outperform" rating and issued a $40.00 target price on shares of Brookfield Infrastructure Partners in a report on Friday, January 31st. Finally, StockNews.com raised Brookfield Infrastructure Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $42.50.

Brookfield Infrastructure Partners Stock Up 0.6 %

Shares of BIP traded up $0.17 during midday trading on Wednesday, hitting $28.40. The company had a trading volume of 535,777 shares, compared to its average volume of 413,079. The company's 50-day simple moving average is $32.03 and its 200-day simple moving average is $33.15. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. The firm has a market capitalization of $13.18 billion, a P/E ratio of 710.23 and a beta of 1.10. Brookfield Infrastructure Partners L.P. has a 1 year low of $24.84 and a 1 year high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP - Get Free Report) TSE: BIP.UN last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The firm 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 dividend of $0.43 per share. This is a boost 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 6.06%. Brookfield Infrastructure Partners's payout ratio is presently 4,300.00%.

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.