Envestnet Asset Management Inc. Boosts Stock Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Envestnet Asset Management Inc. increased its position in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,589 shares of the utilities provider’s stock after acquiring an additional 1,300 shares during the period. Envestnet Asset Management Inc.’s holdings in Brookfield Infrastructure Partners were worth $2,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Promus Capital LLC purchased a new position in shares of Brookfield Infrastructure Partners in the fourth quarter worth $26,000. Compass Planning Associates Inc purchased a new position in Brookfield Infrastructure Partners in the 4th quarter worth about $28,000. Larson Financial Group LLC bought a new position in Brookfield Infrastructure Partners during the 4th quarter valued at about $30,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Brookfield Infrastructure Partners during the 4th quarter valued at about $32,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Brookfield Infrastructure Partners in the fourth quarter worth approximately $44,000. 57.92% of the stock is owned by institutional investors.

Brookfield Infrastructure Partners Stock Performance

Shares of BIP opened at $28.83 on Friday. The business has a 50-day simple moving average of $29.46 and a two-hundred day simple moving average of $32.08. The company has a quick ratio of 0.72, a current ratio of 0.08 and a debt-to-equity ratio of 1.72. Brookfield Infrastructure Partners L.P. has a 52 week low of $25.72 and a 52 week high of $36.50. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 720.93 and a beta of 1.04.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Thursday, January 30th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.58. Brookfield Infrastructure Partners had a net margin of 1.64% and a return on equity of 1.17%. On average, analysts expect that Brookfield Infrastructure Partners L.P. will post 3.45 EPS for the current year.

Brookfield Infrastructure Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.43 per share. This is a boost from Brookfield Infrastructure Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.97%. Brookfield Infrastructure Partners’s payout ratio is 4,300.00%.

Analyst Ratings Changes

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

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 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.