Northern Trust Corp Raises Holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Northern Trust Corp raised its holdings in shares of Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 374,347 shares of the utilities provider’s stock after purchasing an additional 48,787 shares during the period. Northern Trust Corp owned approximately 0.08% of Brookfield Infrastructure Partners worth $11,900,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Triasima Portfolio Management inc. boosted its stake in Brookfield Infrastructure Partners by 1.1% during the 4th quarter. Triasima Portfolio Management inc. now owns 33,330 shares of the utilities provider’s stock valued at $1,059,000 after purchasing an additional 350 shares during the last quarter. MGO One Seven LLC boosted its stake in Brookfield Infrastructure Partners by 5.5% during the 4th quarter. MGO One Seven LLC now owns 7,105 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 372 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in Brookfield Infrastructure Partners by 8.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,096 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 602 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Brookfield Infrastructure Partners by 6.1% during the 4th quarter. Belpointe Asset Management LLC now owns 11,231 shares of the utilities provider’s stock valued at $361,000 after purchasing an additional 647 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Brookfield Infrastructure Partners by 11.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,119 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 707 shares during the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Partners Price Performance

NYSE BIP opened at $32.89 on Friday. The company has a market capitalization of $15.27 billion, a PE ratio of 822.36 and a beta of 1.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.72 and a current ratio of 0.08. The business’s fifty day moving average is $29.53 and its 200 day moving average is $31.70. Brookfield Infrastructure Partners L.P. has a fifty-two week low of $25.72 and a fifty-two week high of $36.50.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last released its earnings results on Wednesday, April 30th. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $2 billion. Brookfield Infrastructure Partners had a return on equity of 1.17% and a net margin of 1.64%. During the same period in the previous year, the business earned $0.78 earnings per share. Sell-side analysts predict that Brookfield Infrastructure Partners L.P. will post 3.45 earnings per share for the current year.

Brookfield Infrastructure Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.72 annualized dividend and a yield of 5.23%. Brookfield Infrastructure Partners’s dividend payout ratio (DPR) is presently -8,600.00%.

Analyst Upgrades and Downgrades

BIP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of Brookfield Infrastructure Partners in a research note on Tuesday, March 25th. Scotiabank raised their price target on Brookfield Infrastructure Partners from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. TD Securities raised their price target on Brookfield Infrastructure Partners from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James raised their price target on Brookfield Infrastructure Partners from $44.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 30th. Finally, Citigroup dropped their price target on Brookfield Infrastructure Partners from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Infrastructure Partners has a consensus rating of “Buy” and an average target price of $41.67.

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.