Corient Private Wealth LLC Reduces Stock Position in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Corient Private Wealth LLC reduced its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,971 shares of the utilities provider’s stock after selling 4,122 shares during the quarter. Corient Private Wealth LLC’s holdings in Brookfield Infrastructure Partners were worth $253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in 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 valued at $834,282,000 after acquiring an additional 616,373 shares during the last quarter. Citigroup Inc. raised its stake in shares of Brookfield Infrastructure Partners by 159.5% in the 3rd quarter. Citigroup Inc. now owns 175,434 shares of the utilities provider’s stock valued at $6,147,000 after purchasing an additional 107,821 shares in the last quarter. FMR LLC lifted its position in shares of Brookfield Infrastructure Partners by 87.1% during the third quarter. FMR LLC now owns 24,090 shares of the utilities provider’s stock worth $844,000 after purchasing an additional 11,217 shares during the last quarter. Ascent Group LLC acquired a new position in Brookfield Infrastructure Partners in the third quarter worth about $216,000. Finally, Stifel Financial Corp increased its holdings in Brookfield Infrastructure Partners by 2.0% in the third quarter. Stifel Financial Corp now owns 88,198 shares of the utilities provider’s stock valued at $3,090,000 after buying an additional 1,763 shares during the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIP has been the topic of a number of research analyst reports. Scotiabank increased their target price on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Raymond James lifted their price objective on shares of Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. StockNews.com raised shares of Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Brookfield Infrastructure Partners in a report on Tuesday, March 25th. Finally, TD Securities increased their price objective on shares of Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield Infrastructure Partners presently has an average rating of “Buy” and a consensus target price of $42.50.

Brookfield Infrastructure Partners Stock Up 0.3 %

BIP stock opened at $29.80 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72. The firm’s 50-day simple moving average is $31.30 and its 200 day simple moving average is $32.87. The stock has a market cap of $13.83 billion, a PE ratio of 745.21 and a beta of 1.10. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $24.84 and a fifty-two week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its quarterly earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. Brookfield Infrastructure Partners’s payout ratio is 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.