PNC Financial Services Group Inc. Buys 1,554 Shares of Brookfield Infrastructure Partners L.P. (BIP)

PNC Financial Services Group Inc. grew its holdings in Brookfield Infrastructure Partners L.P. (NYSE:BIP) (TSE:BIP.UN) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 56,930 shares of the utilities provider’s stock after buying an additional 1,554 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brookfield Infrastructure Partners were worth $2,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BIP. CIBC World Markets Inc. lifted its holdings in Brookfield Infrastructure Partners by 53.0% in the 1st quarter. CIBC World Markets Inc. now owns 2,136,015 shares of the utilities provider’s stock worth $88,944,000 after buying an additional 739,665 shares during the period. Toronto Dominion Bank lifted its stake in shares of Brookfield Infrastructure Partners by 21.2% in the 2nd quarter. Toronto Dominion Bank now owns 3,789,548 shares of the utilities provider’s stock valued at $145,379,000 after purchasing an additional 661,924 shares during the period. Montrusco Bolton Investments Inc. lifted its stake in shares of Brookfield Infrastructure Partners by 149.8% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 1,094,666 shares of the utilities provider’s stock valued at $41,974,000 after purchasing an additional 656,416 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Infrastructure Partners by 16.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,335,096 shares of the utilities provider’s stock valued at $180,513,000 after purchasing an additional 607,582 shares during the period. Finally, Fiera Capital Corp lifted its stake in shares of Brookfield Infrastructure Partners by 15.4% in the 1st quarter. Fiera Capital Corp now owns 2,186,591 shares of the utilities provider’s stock valued at $90,721,000 after purchasing an additional 291,246 shares during the period. Institutional investors and hedge funds own 38.83% of the company’s stock.

A number of research analysts have recently commented on BIP shares. Credit Suisse Group set a $46.00 target price on Brookfield Infrastructure Partners and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded Brookfield Infrastructure Partners from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, July 11th. Bank of America started coverage on Brookfield Infrastructure Partners in a research note on Tuesday, July 10th. They issued a “buy” rating for the company. ValuEngine upgraded Brookfield Infrastructure Partners from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Finally, Citigroup set a $43.00 target price on Brookfield Infrastructure Partners and gave the company a “neutral” rating in a research note on Monday, August 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Brookfield Infrastructure Partners currently has a consensus rating of “Buy” and a consensus target price of $46.70.

Shares of NYSE:BIP opened at $39.68 on Friday. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 1.23 and a beta of 0.97. Brookfield Infrastructure Partners L.P. has a 12-month low of $37.27 and a 12-month high of $46.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.42 and a quick ratio of 0.42.

Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 2nd. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.55). The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $833.00 million. Brookfield Infrastructure Partners had a net margin of 8.25% and a return on equity of 3.29%. research analysts anticipate that Brookfield Infrastructure Partners L.P. will post 3.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, August 30th. Brookfield Infrastructure Partners’s payout ratio is 124.50%.

About Brookfield Infrastructure Partners

Brookfield Infrastructure Partners L.P. engages in utility, transport, energy, and communications infrastructure businesses. The company's Utilities segment operates approximately 2,000 kilometers (km) of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; approximately 12,000 km of electricity transmission lines in North and South America; approximately 3.3 million electricity and natural gas connections in the United Kingdom and Colombia; and a port facility that exports metallurgical and thermal coal in Australia.

Read More: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Brookfield Infrastructure Partners (NYSE:BIP)

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