Advisor Group Holdings Inc. lessened its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP – Get Rating) (TSE:BIP.UN) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,981 shares of the utilities provider’s stock after selling 820 shares during the period. Advisor Group Holdings Inc.’s holdings in Brookfield Infrastructure Partners were worth $10,240,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Brookfield Infrastructure Partners by 8.8% in the fourth quarter. Capital World Investors now owns 19,659,851 shares of the utilities provider’s stock valued at $1,196,578,000 after buying an additional 1,584,397 shares during the period. TD Asset Management Inc. increased its position in Brookfield Infrastructure Partners by 6.1% in the 4th quarter. TD Asset Management Inc. now owns 10,220,630 shares of the utilities provider’s stock valued at $622,697,000 after acquiring an additional 587,199 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Brookfield Infrastructure Partners by 23.3% during the fourth quarter. 1832 Asset Management L.P. now owns 9,797,627 shares of the utilities provider’s stock valued at $594,607,000 after acquiring an additional 1,851,562 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Partners by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 9,253,402 shares of the utilities provider’s stock worth $562,696,000 after purchasing an additional 87,606 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Infrastructure Partners by 3.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,722,352 shares of the utilities provider’s stock worth $469,596,000 after purchasing an additional 254,286 shares during the last quarter. 53.98% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BIP has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Brookfield Infrastructure Partners from $43.33 to $46.67 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Raymond James set a $46.67 price objective on Brookfield Infrastructure Partners and gave the stock an “outperform” rating in a research note on Thursday, May 5th. StockNews.com downgraded shares of Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Credit Suisse Group upgraded shares of Brookfield Infrastructure Partners from a “neutral” rating to an “outperform” rating and set a $49.50 price target on the stock in a research report on Thursday, June 30th. Finally, National Bankshares increased their price objective on shares of Brookfield Infrastructure Partners from $45.33 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.
Brookfield Infrastructure Partners Stock Up 0.1 %
Brookfield Infrastructure Partners (NYSE:BIP – Get Rating) (TSE:BIP.UN) last issued its earnings results on Wednesday, May 4th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.57 by ($0.58). Brookfield Infrastructure Partners had a net margin of 6.63% and a return on equity of 3.40%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 27.1% on a year-over-year basis. As a group, sell-side analysts forecast that Brookfield Infrastructure Partners L.P. will post 2.75 earnings per share for the current fiscal year.
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 61,000 kilometers (km) of operational electricity transmission and distribution lines; 5,300 km of electricity transmission lines; 4,200 km of natural gas pipelines; 7.3 million electricity and natural gas connections; and 360,000 long-term contracted sub-metering services.
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