Harbor Advisory Corp MA Sells 1,241 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Harbor Advisory Corp MA trimmed its position in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,187 shares of the utilities provider’s stock after selling 1,241 shares during the period. Brookfield Infrastructure Partners makes up approximately 2.9% of Harbor Advisory Corp MA’s investment portfolio, making the stock its 10th largest position. Harbor Advisory Corp MA owned about 0.06% of Brookfield Infrastructure Partners worth $8,067,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BIP. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Infrastructure Partners by 8.3% in 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 acquiring an additional 1,362,482 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 11.7% in the third quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider’s stock worth $480,326,000 after acquiring an additional 1,714,740 shares during the last quarter. Mackenzie Financial Corp lifted 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 worth $224,468,000 after acquiring an additional 1,565,246 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 3.5% in the third quarter. Scotia Capital Inc. now owns 5,625,052 shares of the utilities provider’s stock worth $164,815,000 after acquiring an additional 189,649 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield Infrastructure Partners by 1.1% in the third quarter. CIBC Asset Management Inc now owns 5,569,701 shares of the utilities provider’s stock worth $163,953,000 after acquiring an additional 60,510 shares during the last quarter. 57.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BIP. National Bankshares cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating and set a $32.00 target price for the company. in a report on Tuesday, January 30th. National Bank Financial lowered shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 30th. BMO Capital Markets raised their price objective on shares of Brookfield Infrastructure Partners from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. Jefferies Financial Group dropped their price objective on shares of Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, TD Securities dropped their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Brookfield Infrastructure Partners Stock Up 0.2 %

Shares of BIP traded up $0.06 during trading hours on Monday, hitting $27.20. The company had a trading volume of 84,253 shares, compared to its average volume of 510,357. The company’s fifty day moving average price is $28.91 and its two-hundred day moving average price is $28.66. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.20. Brookfield Infrastructure Partners L.P. has a one year low of $21.03 and a one year high of $37.32. The company has a market capitalization of $12.55 billion, a PE ratio of 194.57 and a beta of 0.95.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.79 by ($0.99). The business had revenue of $4.97 billion during the quarter. Brookfield Infrastructure Partners had a net margin of 1.34% and a return on equity of 0.79%. As a group, equities analysts forecast that Brookfield Infrastructure Partners L.P. will post 3.3 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 5.96%. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Infrastructure Partners’s payout ratio is presently 1,157.14%.

Brookfield Infrastructure Partners 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.