Cwm LLC Purchases 753 Shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Cwm LLC grew its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 33.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,986 shares of the utilities provider’s stock after acquiring an additional 753 shares during the quarter. Cwm LLC’s holdings in Brookfield Infrastructure Partners were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BIP. The Manufacturers Life Insurance Company increased its position in 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 purchasing an additional 1,362,482 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Infrastructure Partners by 11.7% during the 3rd quarter. Principal Financial Group Inc. now owns 16,337,632 shares of the utilities provider’s stock valued at $480,326,000 after buying an additional 1,714,740 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Infrastructure Partners by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 7,118,909 shares of the utilities provider’s stock valued at $224,468,000 after acquiring an additional 1,565,246 shares during the last quarter. Scotia Capital Inc. grew its position in 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 in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Brookfield Infrastructure Partners by 1.1% during 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 owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

NYSE:BIP opened at $29.96 on Wednesday. The firm has a market cap of $13.82 billion, a PE ratio of 96.65 and a beta of 0.99. The company has a 50-day moving average of $28.61 and a 200 day moving average of $28.82. Brookfield Infrastructure Partners L.P. has a 1-year low of $21.03 and a 1-year high of $37.32.

Brookfield Infrastructure Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Infrastructure Partners’s payout ratio is 522.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Raymond James boosted their target price on Brookfield Infrastructure Partners from $40.00 to $44.00 and gave the company a “strong-buy” rating in a research report on Friday, February 2nd. National Bank Financial cut shares of Brookfield Infrastructure Partners from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 30th. TD Securities reduced their price objective on shares of Brookfield Infrastructure Partners from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Jefferies Financial Group dropped their target price on Brookfield Infrastructure Partners from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com lowered Brookfield Infrastructure Partners from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield Infrastructure Partners currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

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.