WFA Asset Management Corp Decreases Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

WFA Asset Management Corp decreased its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,141 shares of the utilities provider’s stock after selling 384 shares during the quarter. WFA Asset Management Corp’s holdings in Brookfield Infrastructure Partners were worth $36,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Brookfield Infrastructure Partners by 22.1% during the fourth quarter. Principal Financial Group Inc. now owns 19,951,240 shares of the utilities provider’s stock worth $628,265,000 after buying an additional 3,613,608 shares during the period. 1832 Asset Management L.P. increased its position in Brookfield Infrastructure Partners by 9.6% during the fourth quarter. 1832 Asset Management L.P. now owns 19,209,097 shares of the utilities provider’s stock worth $604,894,000 after buying an additional 1,678,140 shares during the period. The Manufacturers Life Insurance Company increased its position in Brookfield Infrastructure Partners by 8.3% during the third quarter. The Manufacturers Life Insurance Company now owns 17,876,978 shares of the utilities provider’s stock worth $525,947,000 after buying an additional 1,362,482 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Brookfield Infrastructure Partners by 28.2% in the fourth quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock valued at $224,468,000 after purchasing an additional 1,565,246 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Brookfield Infrastructure Partners by 20.0% in the fourth quarter. CIBC Asset Management Inc now owns 6,681,918 shares of the utilities provider’s stock valued at $211,259,000 after purchasing an additional 1,112,217 shares during the period. Hedge funds and other institutional investors own 57.92% of the company’s stock.

Brookfield Infrastructure Partners Price Performance

BIP traded up $0.82 during trading on Wednesday, reaching $28.72. 139,060 shares of the stock were exchanged, compared to its average volume of 484,134. The business’s 50 day moving average price is $28.72 and its two-hundred day moving average price is $29.54. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 91.48 and a beta of 1.04. Brookfield Infrastructure Partners L.P. has a 1 year low of $21.03 and a 1 year high of $36.77.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.68). The firm had revenue of $5.19 billion for the quarter. Brookfield Infrastructure Partners had a return on equity of 1.23% and a net margin of 2.05%. On average, analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.23 EPS for the current year.

Brookfield Infrastructure Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a $0.405 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.62 annualized dividend and a dividend yield of 5.64%. Brookfield Infrastructure Partners’s dividend payout ratio is currently 522.58%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Brookfield Infrastructure Partners from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Finally, Jefferies Financial Group dropped their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Moderate Buy” and a consensus price target of $38.20.

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.