PCJ Investment Counsel Ltd. Trims Stake in Brookfield Infrastructure Partners LP $BIP

PCJ Investment Counsel Ltd. lessened its position in Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) by 35.5% in the third quarter, HoldingsChannel reports. The firm owned 169,100 shares of the utilities provider’s stock after selling 93,110 shares during the quarter. Brookfield Infrastructure Partners accounts for approximately 1.5% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 20th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Brookfield Infrastructure Partners were worth $5,566,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Westfuller Advisors LLC purchased a new stake in Brookfield Infrastructure Partners in the third quarter worth $44,000. City Holding Co. bought a new position in Brookfield Infrastructure Partners in the third quarter worth $59,000. Caldwell Trust Co purchased a new position in Brookfield Infrastructure Partners during the second quarter valued at $66,000. AdvisorNet Financial Inc boosted its holdings in shares of Brookfield Infrastructure Partners by 17.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,160 shares of the utilities provider’s stock valued at $71,000 after buying an additional 325 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Brookfield Infrastructure Partners by 110.2% during the 3rd quarter. US Bancorp DE now owns 2,245 shares of the utilities provider’s stock valued at $74,000 after buying an additional 1,177 shares in the last quarter. 57.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BIP shares. Royal Bank Of Canada increased their price target on shares of Brookfield Infrastructure Partners from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Morgan Stanley set a $45.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Wednesday, January 28th. Scotiabank restated an “outperform” rating and issued a $44.00 price objective on shares of Brookfield Infrastructure Partners in a report on Friday, January 16th. BMO Capital Markets reaffirmed an “outperform” rating and set a $44.00 target price on shares of Brookfield Infrastructure Partners in a research note on Friday, January 30th. Finally, TD Securities reissued a “buy” rating and issued a $57.00 price target (up from $55.00) on shares of Brookfield Infrastructure Partners in a research report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Brookfield Infrastructure Partners presently has a consensus rating of “Moderate Buy” and an average price target of $42.13.

Brookfield Infrastructure Partners Price Performance

BIP opened at $37.96 on Wednesday. The firm has a market cap of $17.50 billion, a PE ratio of 42.17 and a beta of 1.10. The stock has a 50-day moving average price of $36.70 and a 200-day moving average price of $34.82. Brookfield Infrastructure Partners LP has a 1 year low of $25.72 and a 1 year high of $40.32. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.08 and a quick ratio of 0.81.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, January 29th. The utilities provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.42). The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Brookfield Infrastructure Partners had a net margin of 4.40% and a return on equity of 3.22%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Sell-side analysts predict that Brookfield Infrastructure Partners LP will post 3.45 earnings per share for the current fiscal year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a $0.455 dividend. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.43. This represents a $1.82 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, February 27th. Brookfield Infrastructure Partners’s payout ratio is currently 202.22%.

Brookfield Infrastructure Partners Company Profile

Brookfield Infrastructure Partners L.P. (NYSE: BIP) is a publicly traded limited partnership that owns and operates a diversified portfolio of infrastructure assets across four core sectors: utilities, transport, energy and data infrastructure. Through long-lived, regulated or contracted assets, Brookfield Infrastructure provides essential services such as electricity transmission and distribution, toll road and port operations, midstream energy logistics and fiber-based data networks.

The company’s utilities division encompasses regulated electricity and gas distribution networks in North and South America, Europe and Australia, ensuring stable cash flows under current regulatory frameworks.